DivcoWest, a commercial real estate private equity firm, today announced that it has acquired 325 Hudson Street, a carrier-neutral colocation and interconnection meet-me room facility in New York from Jamestown, L.P., another commercial real estate investor, for $135m.
325 Hudson Street – Overview
Overall, 325 Hudson Street is a mixed-use, 10-story, 220k sqft building which houses a carrier-neutral colocation and interconnection meet-me room. The facility serves as a diverse and redundant site to Digital Realty’s 60 Hudson Street in New York, a key interconnection hub in the United States, which is located a half-mile away.
The 325 Hudson facility’s meet-me room is located on the 9th floor of the building, with the 8th floor offering colocation space. In terms of power, the base building is supplied by 3.7 megawatts of utility power from Con Edison. As shown by the building’s layout below, office space comprises the lower floors of the building:
The 325 Hudson Street building sits along the Hudson Fiber Corridor in lower Manhattan. Overall, the meet-me room offers direct access to 40+ fiber networks, multiple Internet exchanges, and 5 trans-Atlantic subsea cables.
Network connectivity options at 325 Hudson include Cogent Communications, Crown Castle, Lumen Technologies, Verizon, and Zayo.
Additionally, the site has access to DE-CIX New York and the NetIX Internet exchanges. Finally, the facility connects with cable companies and internet service providers (ISPs) such as RCN, Starry, and Altice USA.
H5 Data Centers will manage 325 Hudson Street on-behalf of DivcoWest, following its sale by Jamestown. In total, H5 Data Centers has 2+ million sqft overall under management in 13 markets in the United States.
DivcoWest – Real Estate Fund
In October 2020, DivcoWest held its final close for its sixth value-add real estate fund, DivcoWest Fund VI, at $2.25bn. Specifically, DivcoWest’s strategy centers on acquiring value-add real estate in the life sciences, R&D, and office sectors.
To this end, DivcoWest notes that the 325 Hudson building will also appeal to research use, life sciences, and creative office tenants.