In addition to the sublease, Equinix is paying $1.9 million for Verio Inc.'s data structure infrastructure. The company plans to spend another $16 million to bring the space up to its standards, including upgrading the power plant.
Menlo Park, CA-based Digital Realty Trust paid $142.6 million earlier this year for the 1.1-million-sf property, built from 1912 through 1928 and renovated in 1999. The deal was part of seller El Paso Corp.'s strategy of trimming company debt.
Equinix hopes to have the former Verio space ready for customers in the first half of 2006. The new space will offer access to networks and companies already operating at the Lakeside Technology Center.
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