SAN FRANCISCO--(BUSINESS WIRE)--CIM Group in partnership with fifteenfortyseven Critical Systems Realty (“1547”) last week hosted technology, data center and real estate industry executives to mark the start of construction activities for its 240,000-square-foot data center campus on 7.3 acres at 400 Paul Avenue in San Francisco.
“The project will offer a flexible design to serve either a single tenant or multiple users,” said J. Todd Raymond, CEO of 1547.
The first phase of development includes the comprehensive renovation of two existing 1930s-era buildings totaling 54,225 square feet that are being modernized to provide creative office and support space for data center tenants. In addition, site work will commence immediately for the campus, including a 187,000-square-foot purpose-built data center.
The new two-story building will offer a secure and scalable data center with a robust 24 MW of power capacity. Strategically located just outside San Francisco’s central business district, the property is at the hub of more than 15 fiber networks served by multiple international carriers and adjacent to one of the most critical interconnection data centers in the United States.
400 Paul is part of CIM Group’s growing portfolio of diverse infrastructure investments that includes renewable energy, urban parking facilities, water supply infrastructure and waste solutions. With 1547, CIM owns and operates other datacenters in Toronto, Ontario, and Cheyenne, Wyoming.
About CIM Group
Established in 1994, CIM is a vertically integrated owner and operator of real assets for its own account, and on behalf of its partners and co-investors seeking to invest in urban real assets, net-lease assets, and other associated credit strategies, with a principal focus on North America. CIM’s real assets include urban residential, commercial, retail, hospitality, debt, and infrastructure investments as well as U.S.-based retail, office, and industrial net-lease. CIM’s broad expertise includes in-house research, acquisition, investment, credit analysis, development, finance, leasing and asset management capabilities. For more information, please visit www.cimgroup.com.
About fifteenfortyseven Critical Systems Realty
fifteenfortyseven Critical Systems Realty (1547) is a leading developer and operator of custom-designed data centers with over 800,000 square feet of data center space under development and management in Orangeburg, NY, Chicago, IL, Cheyenne, WY, San Francisco, CA, Markham, ON and Kapolei, HI. Central to the firm’s strategy is the ability to uncover the true intrinsic value of properties, opportunistically developing world-class data center facilities with a focus on providing tenants with customized mission critical solutions from concept through completion. 1547 was formed in 2011 by a group of experienced executives from the financial and data center industries to leverage their combined expertise to produce market leading data center development projects. Together, the team has over 60 years of experience in developing, renovating and operating data center space. This wealth of experience allows 1547 to be uniquely positioned to acquire, develop, and operate strategically located, custom built data center properties.