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http://www.carrierhotels.com/news/2004/Feb/17/du_pont_buys_centers_from_savvis_print.html
By Rich Miller
Carrier Hotels Editor
Posted Feb 17, 2004
Du Pont Fabros "will take ownership of the facilities, and SAVVIS will continue to manage them," said SAVVIS spokesman Carter Cromley, which is consistent with the company's approach of not owning its data centers. Last year SAVVIS sold its St. Louis-area data center to Reuters for $35 million in another sale-leaseback deal.
The other 10 data centers operated by Cable & Wireless were all leased, and SAVVIS has assumed the leases on those properties, Cromley said.
Du Pont Fabros was one of Cable & Wireless' largest landlords, and will now play a similar role for SAVVIS. In 2000, Exodus Communications leased 650,000 square feet at Du Pont Fabros' Ashburn Corporate Center development in Loudon, Va. After filing for bankruptcy a year later, Exodus reduced its lease to 185,000 square feet of completed data center space at the site. Exodus' assets were later purchased by Cable & Wireless.
Du Pont Fabros, a Washinton, D.C.-based real estate investment firm, already owns one former Exodus data center in El Segundo, as well as a large data center in Reston, Va. that it purchased from MFN/AboveNet for $23 million in a bankruptcy sale last year. Google has leased 30,000 square feet of space in the Reston site. Du Pont Fabros also owns a portfolio of office properties located near the White House in downtown Washington.
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http://www.carrierhotels.com/news/2004/Feb/17/du_pont_buys_centers_from_savvis_print.html
Du Pont Buys Centers from SAVVIS
By Rich Miller
Carrier Hotels Editor
Posted Feb 17, 2004
DuPont Fabros Development will pay $52 million to buy five former Cable & Wireless data centers from SAVVIS Communications, which has acquired C&W's U.S. hosting operation.
Du Pont Fabros "will take ownership of the facilities, and SAVVIS will continue to manage them," said SAVVIS spokesman Carter Cromley, which is consistent with the company's approach of not owning its data centers. Last year SAVVIS sold its St. Louis-area data center to Reuters for $35 million in another sale-leaseback deal.The other 10 data centers operated by Cable & Wireless were all leased, and SAVVIS has assumed the leases on those properties, Cromley said.
Du Pont Fabros was one of Cable & Wireless' largest landlords, and will now play a similar role for SAVVIS. In 2000, Exodus Communications leased 650,000 square feet at Du Pont Fabros' Ashburn Corporate Center development in Loudon, Va. After filing for bankruptcy a year later, Exodus reduced its lease to 185,000 square feet of completed data center space at the site. Exodus' assets were later purchased by Cable & Wireless.
Du Pont Fabros, a Washinton, D.C.-based real estate investment firm, already owns one former Exodus data center in El Segundo, as well as a large data center in Reston, Va. that it purchased from MFN/AboveNet for $23 million in a bankruptcy sale last year. Google has leased 30,000 square feet of space in the Reston site. Du Pont Fabros also owns a portfolio of office properties located near the White House in downtown Washington.
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