"Access to power was the primary motivating factor," said Peter B. Hennessy, managing principal of the Staubach Company. "Manhattan draws a tremendous amount of power, so it was important to get outside of the central grid to a place where the consumption of power is less, and there is certainty of an adequate supply as well as access to more."
Hennessy and his colleague Joseph F. Harkins, executive managing director, represented the tenant in the transaction. The team also represented Digital Island in their 215,000-sf lease transaction last fall. Insignia/ESG represented the landlords in the transaction.
"This deal advances Brooklyn's status as a significant telecom hub," said Harkins. "This is the second largest telecom deal ever signed in Brooklyn--Digital Island being the largest--and the largest commercial real estate transaction for the borough in 2001."
The ATC, which Carlyle and JPMP are developing together benefits from the City's Digital NYC program, which provides tax and energy incentives to telecom centers outside of central Manhattan. It is also part of Broadband Brooklyn.
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