1547 Critical Systems Realty (fifteenfortyseven): CIM Group sells four data centers to 1547 and Harrison Street Real Estate Capital

Nov 05, 2021 | Posted by Abdul-Rahman Oladimeji

CIM Group has completed the sale of four US data centers. The Real estate firm owned the portfolio of data centers with fifteenfortyseven Critical Systems Realty (1547). Harrison Street Real Estate Capital and 1547 bought the facilities from CIM Group. The facilities are located in Cheyenne, Wyoming; Chicago, Illinois; and Orangeburg, New York. In addition, the facilities have a total space of over 560,000 square feet. The terms of the transaction were not revealed. 

CEO and managing director of 1547, Todd Raymond, said the company is delighted to be partnering with Harrison Street on the acquisition of the facilities. He noted that with the ownership transition of the facilities and shared vision between the two companies, they could build out their portfolio aggressively while planning to have a new capacity online in Chicago and New York early next year.

CIM sold two facilities in Chicago. One is a nine-story facility with 60,000 square feet of space, and 5MW capacity, while the other has 230,000 square feet of space and 26MW capacity. The facility in Orangeburg has 232,000 square feet of space with 24MW of capacity sitting on 23 acres of land. Finally, the facility in Cheyenne has 38,000 square feet of space and 5MW of capacity.