Listed IaaS hosting company Internap (NASDAQ:INAP), a global provider of dedicated servers, (hybrid) cloud, colocation, and managed services, has signed a long-term lease for a “Tier 3-like” data center located at 40 Perimeter Center East from Lincoln Rackhouse, the data center division of Lincoln Property Company.
A joint venture partnership between Bailard and Lincoln Rackhouse acquired the property earlier this year, and The Coca Cola Company remains the majority tenant.
Through this long-term lease, INAP adds a new Atlanta facility with 4.8 MW of critical power capacity. INAP plans to exit another non-core data center in downtown Atlanta, and consolidate customers into both its primary downtown Williams Street “Tier 3-like” data center and this new “high-end enterprise” data center with Lincoln Rackhouse.
“Atlanta is a key metro market with growing demand, and a real focus for upgrade and investment by our team,” said Corey J. Needles, INAP COLO’s SVP and General Manager. “This new agreement provides immediate access to numerous enterprise deals in the region. We plan to offer INAP’s full suite of cloud, managed hosting and managed service offerings. Today, we operate our primary Williams Street data center, and another non-core site. By eliminating the non-core site, and adding this new Lincoln Rackhouse property, we gain more quality control over our environment, which bodes well for our customers. One facility will be downtown, and the other with this deal, will be in the suburbs in Perimeter. Having these two strategic locations will give our customers great options in the years to come.”
Office Space
One of the key benefits with this deal would be that INAP will now be able to exit approximately 50,000 square feet of office space at 1 Ravinia Drive in Atlanta, and relocate employees to new “state of the art” office space within its existing data center at 250 Williams Street in downtown Atlanta as well as the new facility at the Perimeter Center East campus. With these changes, INAP’s Atlanta employees will be located within admin space of the company’s data centers to be closer to its customers and operations.
“This agreement fits precisely within Bailard’s and Lincoln’s strategy to own quality data center real estate and then partner with respected operator groups such as INAP,” said Ryan Sullivan, Managing Director, Lincoln Rackhouse. “INAP brings strong brand recognition for its expertise, excellent customer service and a lengthening record of impressive accomplishment. We want to be part of INAP’s future data center strategy and look forward to this being the first deal in a partnership that is promising for Lincoln Rackhouse, for INAP and for INAP’s customers.”
89 Data Center PoPs Worldwide
INAP operates in Tier 3-type data centers in 21 metropolitan markets, primarily in North America, with 50 datacenters and 89 PoPs around the world. Currently, there is approximately 1 million square feet under lease and 500,000 of data center footprint square feet.
Bailard is headquartered in the San Francisco Bay Area and has sought innovative ways to build wealth, thoughtfully manage risk, and generate consistently solid returns for its investment clients. Bailard has remained employee-owned and, with approximately $4 billion in assets under management, offers public and private pension plans, foundations, endowments, Taft Hartley plans, and sovereign wealth funds.
