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| Ryan Sullivan |
DALLAS, TX -– Lincoln
Rackhouse this month will break ground on a major build-to-suit telecom switch
center for a leading US mobile network provider, solidifying its offering as a
mission-critical developer.
In a sale-leaseback
agreement, the 35,000-sf data center is secured by a 20-year prelease with
renewal options. The 4.3-acre development site is located in a heavy industrial
corridor of Sunrise, Fla. The network provider has requested anonymity and is
not disclosing the site's address due to security concerns.
Ryan Sullivan, managing director of Dallas-based Lincoln
Rackhouse, is spearheading the Florida project and leads the data center
development program nationwide for Lincoln Property Co. Lincoln Property's
South Florida office will oversee development and management of the
design-build project, slated to deliver in the fourth quarter.
The mobile network
provider's stand-alone switch center will significantly expand its delivery
platform in the region. The network provider had purchased the site and began
early planning and design for the development.
The sale-leaseback
opportunity went out for bid about one year ago, triggering a highly
competitive process among data center developers. Bo Bond and Ali
Greenwood, directors of JLL's Data Center Solutions, represented the
network provider in the sale-leaseback agreement.
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| Bo Bond |
"We won this contract
because we have access to the right capital partners, strong local resources
and experience to get the job done in an efficient and cost-effective
manner," Sullivan says.
Lincoln Rackhouse's
design-build team includes Houston-based Burr Computer Environments Inc., an
engineering firm specializing in mission-critical mechanical systems and
infrastructure. Gensler is the project architect. Smith Commercial Contracting
Inc. of Houston is the general contractor.
"This project allows
Lincoln Rackhouse to demonstrate the depth of its capabilities in financing and
efficiently executing ground-up data center development," Sullivan says.
"The process
of completing this transaction was a true partnership between Lincoln, the
network provider and our construction team to facilitate a sophisticated
engineering and construction process with lease terms that make sense for all
parties."
Lincoln Rackhouse primarily
has concentrated on value-add acquisitions and enterprise sale-leasebacks of
mission-critical properties, resulting in a transactions volume topping one
million sf to date.
Its key platform for growth
is focused on build-to-suit and design-build projects, which Sullivan is
aggressively pursuing nationwide while continuing to pursue investments to grow
the portfolio.
With 40 offices in the U.S.,
Lincoln Property offers "boots on the ground" oversight and
management for the highly specialized development and ownership program.
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| Ali Greenwood |
"Data centers have
become a new stand-alone asset class. With this project, we've added
build-to-suit data center development to Lincoln's offerings," Sullivan
says. "Other mission-critical build-to-suits are on the horizon."
Lincoln Rackhouse is the data center division
of Lincoln Property Co. and focuses on helping organizations of all sizes
locate, analyze and secure data center space to lease or own.
Dallas-based Lincoln Property Co. has earned
its reputation as effective, professional managers of residential and
commercial properties with more than 50 years of experience in building, owning
and managing one of the largest commercial real estate portfolios in the United
States.
With 20 years of experience sourcing mission
critical data centers, Lincoln Rackhouse offers unparalleled market and
industry knowledge with an unbiased approach in fulfilling technology
requirements.
For more information on this
transaction, please contact:
Ryan
Sullivan, 214.740.4399
or
connie gore
“Hewlett Crossing’s location on the main retail corridor serving
the dense and affluent population base has resulted in a successful and
seasoned tenant roster. 
