Exodus Communications Inc. Expands Into Utah with Build-to-Suit

SANTA CLARA, CA-Locally based Exodus Communications Inc. is having an 89,000-sf headquarters and testing center developed in Utah for Exodus Performance Labs, a division of the company that tests the Internet sites of Web-based businesses to prevent malfunctioning.

The project will consist of two 40,0000-sf buildings connected by a common area of 9,000 sf on a 5.23-acre site. Exodus will lease the facilities from W P. Carey & Co. LLC, which is having San Francisco-based Conroe Ventures LLC build the property specifically for Exodus Performance Labs. Exodus has signed on to lease the facility for 15 years.

W.P. Carey purchased the property for the facility on behalf of Corporate Property Associates 14 Inc., a public non-traded real estate investment trust. The total cost of the facility is expected to be $13.2 million.