“New World Tower’s in-house data center is home to more than 15 of the world’s most important fiber providers—a density of carriers that makes it one of the most important buildings in South Florida,” says St. Romain. With 77% occupancy, St. Romain also notes the upside potential for additional lease-up of additional data center space.

In the nearly three weeks the building has been on the market, St. Romain reports early interest from investors. One factor driving that interest is a capital market that’s not amenable to building new data or telecom centers. But St. Romain admits there are challenges to getting a deal done.

“It’s not a the typical office investment,” St. Romain says. “There are not thousands of buyers for this. It’s a pretty focused group. We want to make sure that those investors are aware of the opportunity and understand the opportunity. There aren’t many buildings like this.”