New Continuum Data Centers, operated by the IT infrastructure service provider New Continuum Holdings Corporation, has acquired the data center it was using from its previous owner, CenterPoint Properties. The data center, which was officially acquired in late December, is located at 603 Discovery Drive in West Chicago, Illinois.
“This is a major milestone for New Continuum. When we began this re-development project, it was always our objective to eventually own the underlying real estate asset as well. With this transaction completed, we can now begin the next chapter in New Continuum’s evolution as an owner and operator of this critical data center,” said Eli D. Scher, founder, chairman, and CEO of New Continuum.
The facility was originally purpose-built as a data center by the previous owner. New Continuum began leasing the property in the fall of 2013. The company started construction on a redevelopment project for the building in the same year.
Once the company completed the initial construction, it operated a multi-tenant data center on the premises in 2015. The company gradually added incremental cooling capacity in the summer of 2018. New Continuum has also invested heavily in recruiting world-class engineers and constructing next-generation connectivity services.
With the rich infrastructure, New Continuum Data Centers has now become a significant player in multi-tenant data center services, offering highly flexible wholesale and retail colocation services to enterprises and small businesses. The flagship data center is Open-IX certified, and New Continuum is a member of the Open19 Foundation as well as the Enterprise Ethereum Alliance.
Post Road Group, a leading real estate bridge lender and investor in U.S. middle-market telecommunications infrastructure, provided the senior debt financing for the acquisition. “We are excited about providing New Continuum capital to finance the acquisition of this data center. We look forward to working with the New Continuum team as they continue to execute their business plan,” said Jason Carney, Managing Director, Post Road Group.