Infocrossing Sells Two Data Centers for $25M

Infocrossing has executed a $25 million sale/leaseback for two large data centers it acquired when it bought (i)Structure from Level 3.

Rich Miller

January 6, 2006

1 Min Read
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Infocrossing  has executed a $25 million sale/leaseback agreement for two data centers it acquired with its purchase of (i)Structure from Level 3 last month, according to an SEC filing by the company . LSAC Operating Partnership L.P. will purchase an 88,000 square feet in Omaha Nebraska and 60,000 square foot data center in Tempe, Arizona and then lease the facilities back to Infocrossing for 20 years. The sale price for the Tempe property was disclosed as $12.15 million, meaning the larger Omaha property was valued at $12.85 million.   

On Dec. 1 Infocrossing closed on an $82 million deal to buy (i)Structure, an IT outsourcing provider that had been a subsidiary of Level 3 Communications. The (i)Structure deal is expected to add approximately $76 million to Infocrossing's gross revenue over the next year. Prior to the deal, Infocrossing had five data centers totalling 150,000 square feet of space. The Tempe and Omaha centers were the only two facilities owned by (i)Structure.

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