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Data Center Data Center

Histoires

Global Technology Company

Site Selection & Acquisition for Data Center

01 The Opportunity

Cushman and Wakefield was retained by a global technology company to assist in the selection of multiple sites for the construction of a number of mission critical data centers. The priorities were to acquire 20+ acre properties within specific geographies of Ontario and Quebec that would allow for, and have the proper infrastructure to support, the construction of World Class data centers within a comparatively short timeframe.

ASSIGNMENT CHALLENGES:

  • Client requirement to remain confidential to prevent unnecessary land value inflation.
  • Client required ownership of site and was hesitant to consider alternative deal structures (build to suit, land-lease of joint venture).
  • Client intended to development the property using their preferred contractors which was contrary to the desires of developer or ultrahigh- net worth landowners who wanted to hold onto the land and/or build powered sells if not completed buildings.
  • Specific geographies targeted consisted of:
    • significantly built out suburban areas with few truly greenfield opportunities.
    • small lots requiring negotiation with multiple parties to acquire the desired acreage.
    • little to no “on market” properties.
    • situations where availability rates were below 1.5% meaning significant competition incurred when large industrial properties became available.
    • further limited availabilities due to access to power and fiber.
    • large parcels of land zoned agricultural or constrained by green belt regulations or environmental issues requiring longer lead times.

02 The Solution

  • Comprehensive research done in the region
  • Mapped and identified ownership of all large land and industrial parcels in the area (both “on” and “off”).
  • Overlaid electrical power and fiber information to further qualify potential sites.
  • Contacted all land/industrial owners with characteristics to unearth off market transactions.
  • Worked with multiple site owners for potential assembly of land sites.
  • Worked weekly with client to create and update a short list of targeted options with multiple contingencies for each preferred site to develop and maintain negotiating leverage.
  • Implemented a multistep process to progressively secure exclusivity to individual opportunities (letters of intent, confidentiality agreements, right of access agreements, agreements of purchase and sale etc.).
  • Continually followed up with landowners to sustain momentum and develop leverage and sense of urgency.

03 The Results

  • Cushman & Wakefield managed 10 opportunities, resulting in the completion of 4 acquisitions, totaling 71 acres and a transactional value of $153 million.

  • Achieved below market prices.

Meet the team

Randy Borron Toronto Office Leasing
Randy Borron

Vice Chairman, Office
Toronto, Canada


+1 (416) 359-2474 x222474

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Brad Henderson
Brad Henderson

Broker
Toronto, Canada


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Michael-Borron-Headshot
Michael Borron

Associate Vice President
Toronto, Canada


+1 (416) 359-2481

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