Digital Realty Trust (DLR) late today
confirmed its acquisition [1] of One Savvis Parkway in St. Louis, which is the corporate headquarters for managed hosting provider Savvis Inc. (SVVS). Digital Realty paid $27.7 million to acquire the 156,000 square foot building from landlord Duke Realty Corp.
The announcement had been anticipated since Digital Realty execs said in an analyst call earlier this month that it had bought three St. Louis properties for $80.7 million. The company confirmed this morning that two of the acquisitions were the
Bandwidth Exchange buildings [2]at 900 Walnut and 210 North Tucker.
Savvis is Digital Realty’s largest tenant, leasing more than 1.38 million square feet of space in Digital’s properties. Savvis annual rent of $29.3 million represents 11 percent of revenue. “Savvis continues to be a very important customer for DLR and we are pleased to have its headquarters as part of our operating portfolio,” said Michael Foust, CEO of Digital Realty Trust. “The acquisition of this property represents a very attractive risk-adjusted return for DLR.”
Rich Miller is the founder and editor-in-chief of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.
Article printed from Data Center Knowledge: http://www.datacenterknowledge.com
URL to article: http://www.datacenterknowledge.com/archives/2007/08/29/savvis-st-louis-hq-sold-to-digital-realty/
URLs in this post:
[1] confirmed its acquisition: http://investor.digitalrealtytrust.com/phoenix.zhtml?c=182279&p=irol-newsArticle&ID=1046314&highlight=
[2] Bandwidth Exchange buildings : http://www.datacenterknowledge.com/archives/2007/Aug/29/digital_realty_buys_bandwidth_exchange.html
[3] Rich Miller: http://www.datacenterknowledge.com/archives/author/richm/
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