“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,” Mirliss says.
Jersey City, NJ (PRWEB) April 22, 2011
Newmark Knight Frank announced the successful negotiation of a long-term lease extension that will enable its client, QTS (Quality Technology Services), to expand the capacity of a key regional data center on the Jersey City waterfront.
QTS is on an aggressive growth track and needed greater connectivity, raised floor space and power than its existing data center at 95 Christopher Columbus Drive in Jersey City, N.J., was providing. Newmark Knight Frank tenant representation specialists Rich Mirliss, Rich Madison, Hope Brodsky and Brendan Kiley guided QTS through an extensive search and evaluation of potential sites for the company’s Northeastern hub.
“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.”
In the end, QTS’s existing landlord, Wells Real Estate Funds, provided the best option via a lease extension that gives QTS long-term control of its 127,000-square-foot space overlooking the Hudson River. Jonathan Meisel and Aaron Ellison, both of Jones Lang LaSalle, represented the landlord.
The data center is already fed by two power grids. QTS has confirmed that additional generators, power distribution, cooling capacity and other improvements will provide a total of more than 5.0 megawatts of power and allow higher power density utilization of the facility’s 50,000+ square feet of raised floor. Together the improvements and the space retrofitting by QTS will support ongoing customer growth in the facility.
QTS benefitted from the Newmark Knight Frank’s data center experience in evaluating potential sites, Madison says. Every property had to be vetted in regard to roof accessibility and load capacity, floor loads, ceiling heights, power and other aspects of infrastructure. The team researched the time and costs associated with obtaining plan approval and completing alterations at each site as well.
“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,” Mirliss says. “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.”
QTS’s original lease was set to expire in 2015, Brodsky notes, but QTS had an option to terminate the lease last fall and retained Newmark Knight Frank to explore options for ending the lease in order to relocate and expand.
QTS (Quality Technology Services) is a leading national provider of data center solutions and fully managed services for enterprise businesses. The company offers a complete, unique portfolio of core data center services, including Custom Data Center, Colocation and Cloud Services, providing the flexibility, scale and security needed to support the rapidly evolving infrastructure demands of web and IT applications. With 12 locations in seven states, QTS owns, operates and manages more than 3.1 million square feet of secure, state-of-the-art data center infrastructure and supports more than 600 customers. For more information about QTS, please visit http://www.qualitytech.com or call 877.QTS.DATA or follow QTS on Twitter @DataCenters_QTS.
About Newmark Knight Frank
Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 220 offices in established and emerging property markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit http://www.newmarkkf.com.
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