Originally posted to Data Center Frontier by Rich Miller.
When it comes to real estate valuations, data centers aren’t like other buildings. Miles Loo learned this in the late 1990s while appraising the value of an office tower in Los Angeles that had been converted into a “carrier hotel” to support telecom and Internet traffic.
Loo specialized in appraising Class A office buildings, including many trophy properties in the LA market. But this property was different, with unusual levels of connectivity and redundant power infrastructure. Loo realized that many of the factors that made the building valuable weren’t accounted for in the traditional office appraisal model.
It was the beginning of a career specializing in data center appraisals, founding the Mission Critical Facilities specialty group at Cushman & Wakefield and helping to define valuations as the sector emerged as an established real estate asset class.
Loo has now joined Newmark Knight Frank (NKF) as an executive vice president leading its Valuation & Advisory Data Center Solutions Group. Loo and his team will be based in the Los Angeles office, working on projects globally.
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