Element Critical, a data center operator jointly owned by Safanad and its industry partner Industry Capital, already has data centers available in Silicon Valley and Northern Virginia. Through the acquisition of two additional data centers encompassing 195,000 square feet of space in Chicago, Illinois, Element Critical will now expand its operations into the Chicago market.
These two data centers are located 17 miles west of downtown Chicago and two miles from O’Hare International airport. Cumulatively featuring 111,000 square feet of raised floor and up to 15 megawatts of available power capacity, they have direct ties to existing telecommunications and fiber carriers, including fiber routes to the Chicago Mercantile Exchange and East Cermak.
“Element Critical is building a world-class data center platform and the acquisition of these strategically located facilities in Chicago was a natural next step in our national expansion,” said Ken Parent, CEO of Element Critical. “We will be investing more than $40 million to further develop and enhance the facilities to immediately provide strategic, customized and flexible colocation solutions.”
Safanad is a global principal investment firm founded in 2009 with its main presence in New York and offices in London and Dubai. The firm would create sustainable value by pursuing opportunities underpinned by long-term social and economic insights and clear public sector policies and plans.
To date, Safanad has “successfully” executed ~$10 billion of transaction value in the United States and Europe across sectors including healthcare, education, student housing, suburban offices, automotive supply chain, and data centers.