$50M Lease for Net2EZ at Garland Building
May 13th, 2009 By: Rich Miller
Net2EZ Managed Data Centers has leased more than 50,000 square feet of data center space at the Garland Center at 1200 W. Seventh Street in Los Angeles, Globe Street reported this week. The 10-year lease, which is valued at more than $50 million, is one of the largest office deals in Los Angeles this year.
Net2EZ also has data center space at the 365 Main facility in El Segundo and DuPont Fabros Technology’s ACC4 data center in Ashburn, Va. The company is expanding on both coasts, having recently announced a substantial lease at ACC5, the new DuPont Fabros facility in Ashburn scheduled to open later this year.
Net2EZ’s lease at the Garland Center marks a return to the building for the company, which left after a lengthy power outage in 2006. The ownership of the Garland Center has since completed a $40 million project to improve the building’s electrical and mechanical infrastructure. Net2EZ co-founder Pervez Delawalla told Globe Street that the $40 million investment has turned the Garland Center into “one of the premier critical facility buildings in Los Angeles.”