The consolidation in the data center industry has accelerated in a big way in recent months, as leading players seek to keep pace with the evolving geography of the tech landscape.
This week it is CyrusOne making a significant acquisition, pushing into the Southeastern U.S. with the purchase of two facilities from Sentinel Data Centers. The $490 million transaction includes large facilities in Raleigh, North Carolina and Somerset, New Jersey which both have room for expansion.
The Raleigh data center provides fast-growing CyrusOne with a footprint in North Carolina, where Sentinel was the first player focusing on large-footprint wholesale projects, where companies lease plug-and-play data halls from service providers. CyrusOne specializes in large wholesale deals, and will have room to grow within the 420,000 square foot Raleigh building, where Sentinel has filled a 100,000 square foot Phase I and completed a 120,000 square foot Phase II. The 10 megawatt capacity is about 70 percent leased, with the opportunity to build out and lease an additional 23 megawatts (MW).
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