Cleveland High Density Data Center Acquired by Strategic Datasphere
StratCap’s institutional data center real estate investment platform, Strategic Datasphere, LLC, has completed the acquisition of a 187,000 square foot facility with a high-density data center, banking operations center and flex/R&D space in Cleveland, OH.
Serving as a central connectivity point between Chicago and New York, Cleveland has seen an influx of interest due to local and regional companies looking to outsource their data center presence.
And because Cleveland is an NFL city, it has seen an increase of cloud and edge customer activity from AWS, Google, Microsoft, and Facebook who are looking to establish nodes and local zones in these markets.
Located five minutes from Cleveland Hopkins International Airport and 15 minutes from downtown Cleveland, this facility benefits from robust fiber connectivity from over seven providers.
Originally built in 1988 as National City Bank’s operations and data center facility, it was expanded in 2008 when a major financial institution acquired the property to create a modern technology campus. This financial institution (an investment grade tenant) leases about 26% of the facility and has approximately 14 years of lease term remaining on its current lease.
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