INAP Upgrades Data Center Portfolio in Atlanta Market to Prepare for Growth
December 13 2017 - 8:00AM
Signs New Lease with Lincoln Rackhouse in
Perimeter Data Center Containing Anchor Tenant
Internap Corporation (NASDAQ:INAP), a provider of high-performance
internet infrastructure services, is significantly expanding its
presence in Atlanta, a top-10 U.S. market, through a master 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, Inc. 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
facility with Lincoln Rackhouse.
“Atlanta is a key metro market with growing
demand, and a real focus for upgrade and investment by our team.
This new agreement provides immediate access to numerous enterprise
deals in the region,” stated Corey J. Needles, INAP COLO's SVP and
General Manager. “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.”
The metro Atlanta data center market is
dominated by suppliers based in either downtown or the northern
suburbs. This new INAP facility sits between these locations in the
fastest growing area within the Atlanta market with many large
corporations expanding or relocating their headquarters nearby. In
addition, INAP’s AgileCLOUD and AgileSERVER platforms combined with
highly-scalable managed services and hosting will bring valuable
opportunities to the enterprise-dense location. The addition of
this site to INAP’s portfolio of hosting-enabled locations allows
INAP to continue to support its customer’s complex IT environments
and disaster recovery needs.
The new Atlanta facility is part of INAP’s
initiatives to rationalize corporate assets and to improve
profitability. One of the key benefits with this deal is 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. The location of the new Perimeter Center
campus now enables INAP to exit from a non-core lease from another
data center provider in the downtown Atlanta area.
“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.”
About Lincoln Rackhouse
Lincoln Rackhouse is the data center division of Lincoln
Property Company and focuses on helping organizations of all sizes
locate, analyze, and secure data center space to lease or own.
Since its inception in Dallas, Texas in 1965, Lincoln Property
Company has earned its reputation as effective, professional
managers of residential and commercial properties with over 50
years of experience in building, owning, and managing one of the
largest commercial real estate portfolios in the United States.
With 20 years of experience sourcing mission critical data centers,
Lincoln (Rackhouse) offers unparalleled market and industry
knowledge with an unbiased approach in fulfilling your technology
requirements.
About Bailard, Inc
Since Bailard opened its doors in 1969 in the San Francisco Bay
Area, the firm 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 as well as private
individuals and family offices carefully-crafted proprietary
investment strategies and products, as well as stability and
discipline in order to generate outstanding results and provide
exceptional personal service. Bailard has over 40 years of
experience investing in real estate. The real estate team focuses
on value-add investments that it can actively manage to create
value in order to effectively execute its core-plus portfolio
strategy mandate; all the while seeking to deliver competitive and
highly attractive risk-adjusted returns through varying market
environments.
About Internap Corporation
Internap Corporation (NASDAQ:INAP) is a leading
provider of internet infrastructure through both Colocation
Business and Enterprise Services (including colocation, network
connectivity, IP, bandwidth and managed hosting) and Cloud Services
(including enterprise-grade AgileCLOUD, bare-metal servers, and SMB
iWeb platforms). 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. INAP operates a premium business
model that provides high-power density colocation, low-latency
bandwidth and public and private cloud platforms in an expanding
internet infrastructure industry. For more information, visit
www.INAP.com.
Follow INAP
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INAP Investor ContactsRichard
Ramlall404-302-9982ir@inap.com
Carolyn Capaccio/Jody
BurfeningLHA212-838-3777inap@lhai.com
Lincoln Rackhouse ContactRyan
Sullivan214-740-4399RSullivan@LPC.com
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