Originally posted to Data Center Frontier by Rich Miller,
Central Colo has wasted no time expanding beyond its first facility in Silicon Valley. The colocation provider recently entered the Northern Virginia data center market, through an affiliate acquiring the Tyson Technology Center in Vienna from the Meridian Group for $96 million. The property consists of a 200,000-square foot Tier 3 data center and an 80,000-square foot office building, and is 75 percent leased.
The acquisition comes just four months after Central Colo unveiled new expansion-minded investors in Safanad Capital, a global investment firm, and San Francisco private equity firm Industry Capital. New CEO Ken Parent indicated the company would begin scouting for opportunities to enter markets beyond Silicon Valley, where it operates a former Level 3 facility in Sunnyvale. The Central Colo team moved quickly to enter Northern Virginia, the industry’s largest and most active data center market.
“If you’re going to start with two markets, you can’t do better than Silicon Valley and Northern Virginia,” said Parent, who has experience building a data center network from his tenure as was CEO of ByteGrid. “The Tysons Technology Campus gives us the perfect East Coast asset. These two assets provide the company with a strong platform for growth as we look to continue to expand in additional markets, and support our customers with a variety of connectivity and hosting services supporting hybrid IT solutions.”
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