CIM Group, in association with 1547 Critical Systems Realty announced the acquisition of a 42,000-square-foot datacenter in Markham, ON.
I.C.E Datacenters sold the property to the partnership and will leaseback a significant portion of the data center.
CIM Group did not reveal the financial details of the investment in a new data center in Canada.
This is CIM’s second acquisition in Toronto, and its second investment with 1547. Earlier this summer, the joint venture acquired 400 Paul Avenue, a 7.3-acre property, for setting up a 240,000-square-foot data center campus. The company did not disclose the present status of the data center campus.
This acquisition adds to CIM Group’s infrastructure investments that includes renewable energy, urban parking facilities, water supply infrastructure, and waste solutions, and marks 1547’s first international data center location.
The Markham facility at 105 Clegg Road, located in Canada, 20 miles outside of Toronto, was originally built as an enterprise supercomputer site, and over the last year was redeveloped into a multi-tenant Tier III datacenter by I.C.E Datacenters.
The data center consists of 2 megawatts facility, and includes entitlements for up to 60,000 square-feet of datacenter space, with an additional 6 megawatts of available power. The existing datacenter features two private and independent fiber paths connecting to the leading downtown interconnection hub at 151 Front Street.
“Our portfolio expansion with CIM Group into one of Canada’s datacenter markets will bring much needed multi-tenant wholesale datacenter capacity online to service the growing demand,” said J Todd Raymond, CEO of 1547.
I.C.E Datacenters and the new owners will jointly market the datacenter, with 1547 focused on the wholesale market and I.C.E Datacenters on retail colocation and connectivity to all major networks, carrier hotels and cloud providers.
Additionally, CIM and 1547 have begun marketing the entitled expansion to potential tenants and pursue development with pre-leasing.