"Already, I've been approached by one or two major telecommunications companies," Stein, president and CEO of Miami Beach-based Savitar Realty Advisors, tells GlobeSt.com. "For a tech company to replicate this building, you're looking at $350 to $400 a square foot." Indeed, the 143,000-sf building Stein purchased for about $9.4 million in 1997 bears all the characteristics of a defense stronghold--built to operate almost under any act of human or nature.
"Back when IBM negotiated the sale-leaseback, it was a little different," Stein says. "The lease rate, compared to today's standard, was substantially below market value. I would entertain a sale, but it would have to be an attractive price." Replete with 24-inch, poured concrete walls, the building at Military Trail and Spanish River Boulevard possesses some of the most highly sought-after amenities available in a high-tech data center.
Besides a direct feed to a Florida Power & Light electrical substation, the facility can draw power from the city's electrical grid. If all else fails, it can operate on a 10-megawatt generator linked to a 20,000-gallon tank of diesel fuel. The list of amenities includes two Sonnet fiber-optic rings that allow for multidirectional rerouting of telecommunications in case of line outages and twin cooling towers capable of sending the building temperature to 60 degrees in 20 minutes.
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