CoreSite has raised $150M in a debt offering, via a private placement to accredited investors. According to CoreSite, the 3.75 percent Senior Notes are due in 2027. The company said the proceeds of the financing will go to refinance existing debt and for general corporate purposes.
Country: United States
Region: North America
Short Code: CH1
Gross SqFt: 180,032
Usable SqFt: 129,790
Total Power: 16.0 Megawatts
Ownership: CoreSite owns the building.
CoreSite's CH1 site in downtown Chicago was acquired for $34 million in 2007 from Marc Realty. CoreSite has more than a decade upgrading the infrastructure one floor at a time. CoreSite has since finished renovating and filling the building with colocation customers and is planning their 2nd building in Chicago.
Once owned by the Western Union company, the building was formerly known as "The Telegraph Building."
The building is next to the Chicago Stock Exchange and relatively close to 350 E Cermak Carrier Hotel.