JERSEY CITY-After searching out several locations, Quality Technology Services decided to renew its lease and expand the capacity of its existing regional data center at 95 Christopher Columbus Drive here. Looking for greater connectivity, raised floor space and power, QTS retained Newmark Knight Frank to evaluate new sites for its Northeastern hub. The existing lease was set to expire in 2015, and QTS had an option to terminate in fall 2010.
“We were chosen for the assignment because of our extensive track-record in negotiating sizeable long-term transactions on the waterfront, as well as for our data center experience,” says Newmark Knight Frank’s Rich Mirliss in a release. “Each building had its own nuances as it related to how a power upgrade project would work and what the ongoing tenant-landlord relationship would be.”
Tenant representation specialists Mirliss, Rich Madison, Hope Brodsky and Brendan Kiley found that a long-term renewal of QTS’ existing lease with landlord Wells Real Estate Funds was the best solution. The deal gives QTS long-term control of its 127,000-square foot space, however, a QTS spokesman could not confirm a lease term by press time. Additional generators, power distribution and other improvements will allow densification of the space by QTS.
“This remains an extremely critical facility for QTS,” Mirliss says, adding that few class A office buildings on the waterfront are capable of hosting a data center of this size. “It required long-term stability with the right landlord and in the right building.”
Known as the International Financial Tower, 95 Christopher Columbus is located within Jersey City’s Urban Enterprise Zone, which offers tenants certain financial and tax benefits. Rents in the area range from $19 per square foot to $28 per square foot, according to LoopNet. Jonathan Meisel and Aaron Ellison, both of Jones Lang LaSalle, represented the landlord.
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