Five 9s Advises On 701,000 SF Bank of America Data Center Lease Renewal
Five 9s Digital advised the Landlord in a 701k SF, 30+ MW data center and mission critical complex lease extension in the Richmond, Virginia market. The single-tenant complex is occupied by Bank of America which has been the sole-occupant for over 30 years with significant upgrades and expansions completed over this period of time.
Advisory services included a full profile of the operations, infrastructure analysis, competitive market studies, lease negotiations and the consummation of a successful transaction which brought the new lease terms in line with the current data center marketplace.
Upon completion of the advisory project, ownership sold the building to an institutional investor, Mapletree, which specializes in the acquistion of net-leased mission critical real estate.
The Richmond market and Henrico County have experienced recent significant growth in the data center sector including a new and expanding massive Facebook data center campus and the QTS Data Centers 710,000 SF expansion of its White Oak Technology Park campus.
