Alternative asset manager GI Partners has acquired a carrier hotel and data center facility in Seattle, Washington. The Komo Plaza, previously owned by real estate investment firm Hines, was priced at $276 million.
The 294,000 sq ft (27,313 sq m) site consists of two buildings and includes a wholesale data center and co-location facility, class A office, and retail space. Hines will continue to act as the property manager.
In the shadow of the Space Needle
“The acquisition of Komo Plaza further expands GI’s portfolio of technology-advantaged real estate and exemplifies its strategy of leveraging the firm’s operational excellence, technical knowledge, and market expertise to acquire properties with significant critical building infrastructure,” Tony Lin, director of GI Partners, said.
“GI Partners is well positioned to offer tenants and users connectivity along the West Coast through Komo Plaza and its sister carrier hotel, One Wilshire.”
GI picked up One Wilshire in 2013, a 663,000 sq ft building that hosts a carrier hotel, office, and retail space, located in Los Angeles. It is also managed by Hines.
The Komo Plaza facility includes a meet me room with more than 15 carriers and service providers, rooftop satellite and antenna facilities, and access to the Seattle Internet Exchange.
The data center has 18MW of utility power, with nine generators providing 16.5MW of backup power. It can support power densities of more than 150 watts per square foot.
The plaza is adjacent to the Space Needle, Seattle Center, and the Bill and Melinda Gates Foundation headquarters.