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JV To Construct 441,000-SF Data Center

NORTHLAKE, IL-The Koman Group and Ascent Corp. are constructing a data center on a 12-acre site.

By Gina Kenny | Updated on May 31, 2007

NORTHLAKE, IL-A joint venture between property management company Koman Group, based in Creve Coeur, MO, and information technology company Ascent Corp., based in St. Louis, is constructing a 441,000-sf data center at 601 Northwest Ave. Jones Lang LaSalle, based in Chicago, has been chosen as the leasing agent. Senior vice president Tim Spillane, senior vice president Dan Fernitz and vice president Rick Benoy will head the marketing team.

The data center is being built on a speculative basis for one to eight tenants. “The reason it is being built is they see, and I happen to agree with them, a lack of quality data centers in the market today,” Spillane says. “Across the country, you see there are limited options.” The two-story facility is being constructed on a 12-acre site near the Tri-State and Eisenhower expressways.

“Chicago, as a whole, is really a great place for a data center,” Spillane says. Telephone cables and fiber are installed along railroad tracks making it “really a crossroad in the United States for fiber” in addition to relatively inexpensive electricity costs compared to some other areas of the country. The cost is about 5 cents per kilowatt hour as opposed to as high as 9 cents per kilowatt hour in some areas of the country, he says. The asking rate for the building will be $36 per sf triple net, Spillane tells GlobeSt.com. Construction on the building will begin this summer and is expected to be completed in the first quarter of 2008.

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