CIM Group Acquires Data Center In Orangeburg, New York; Fifteenfortyseven Critical Systems Realty Maintains Ownership Interest Alongside CIM
ORANGEBURG, NEW YORK – January 21, 2019 – CIM Group and fifteenfortyseven Critical Systems
Realty (“1547”) today announced the acquisition of 1 Ramland Road in Orangeburg, New York, an
existing 232,000-square-foot datacenter, previously owned by an affiliate of 1547. The partially
occupied facility currently provides 7MW to tenants across 28,000 square feet of turn-key data center
space and has capacity onsite to deliver an additional 17 MW of power capacity across 132,000 square
feet of space to be developed as turn-key or powered shell datacenter space and approximately
60,000 square feet of multi-tenant and private suite business-continuity / disaster-recovery office
space. The datacenter site is also entitled for a private, 50 MW substation and a 230,000 square foot
expansion. fifteenfortyseven Critical Systems Realty (“1547”) acquired and redeveloped the property in
2012 from its previous use as office and light industrial/warehouse.
This transaction is the sixth for the CIM-1547 partnership and the second in less than a month.
“With the partnership’s combined resources and the increasing market demand for flexible datacenter
and BC/DR space, this facility is poised to grow substantially in the near term and positions the
portfolio to serve tenants in key markets in the Northeast U.S. / Midwest / West Coast.” stated J. Todd
Raymond, CEO of 1547.
Existing tenants include wholesale users such as a multinational cable service provider, a
national data center services firm and a regional financial institution. The location of the property in
Orangeburg is only 22 miles from Manhattan and provides competitive low latency connectivity from
over ten network providers to critical New York Metro-area interconnection hubs. Furthermore, the
site benefits from competitive Rockland County electricity rates and a full state sales tax abatement on
tenants’ IT expenditures, resulting in a compelling overall cost of occupancy for customers.
The CIM and 1547 partnership has also acquired four other data center properties in major
urban centers, including Chicago and a stabilized single-tenant property in Cheyenne, Wyoming. The acquisition adds to CIM Group’s growing portfolio of diverse infrastructure investments
that includes renewable energy, urban parking facilities, water supply infrastructure, and waste
solutions.
About fifteenfortyseven Critical Systems Realty, LLC
fifteenfortyseven Critical Systems Realty (“1547”) is a leading developer, operator, and owner of highly interconnected, custom-designed data centers with over 1.1 million square feet of data center space under management throughout North America and Europe. 1547 selects sites, designs facilities, and manages developments to optimize returns for all stakeholders across new and interconnected properties. With interconnection in the company’s DNA, 1547’s connectivity-focused portfolio of data centers includes carrier hotels and core connectivity hubs designed to deliver customized, mission-critical solutions from concept to connection. For more information, please visit www.1547realty.com.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994,
CIM has led more than $60 billion of projects in communities across the Americas on behalf of its own
account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of
research, acquisition, credit analysis, development, finance, leasing and property management
experience in urban real assets, net-lease assets and other associated credit strategies. Using its
disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which
ultimately enhances communities. For more information, visit www.cimgroup.com.