{"id":1004100659,"date":"2014-07-16T10:42:41","date_gmt":"2014-07-16T18:42:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=277223"},"modified":"2020-05-21T22:29:47","modified_gmt":"2020-05-22T06:29:47","slug":"vxchnge-to-open-new-data-center-at-1500-spring-garden-street-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/vxchnge-to-open-new-data-center-at-1500-spring-garden-street-2\/","title":{"rendered":"vXchnge to Open New Data Center at 1500 Spring Garden Street"},"content":{"rendered":"

By Veronica Grecu, Associate Editor<\/em><\/p>\n

\"1500<\/a><\/p>\n

1500 Spring Garden Street<\/p>\n<\/div>\n

Philadelphia is one of the densest cities in the U.S. according to official data<\/a>, and the demand for data centers and interconnection services is on the rise as well. As a result, many data center-oriented companies are choosing Philadelphia in an attempt to meet the growing demand for colocation facilities.<\/p>\n

One such company is vXchnge, a data center services company based in Tampa, Florida. vXchnge recently announced it will expand into Philadelphia by creating a state-of-the-art data center at 1500 Spring Garden Street, a mixed-use office building located between 15th<\/sup> and 16th<\/sup> Streets and Hamilton and Spring Garden Streets in Center City. The new facility is part of vXchnge\u2019s strategy to create \u201cBuilt for Performance\u201d data centers in 15 markets to address localization issues for the cloud and service providers in the internet economy. Construction of the 70,000-square-foot data center has already begun, and vXchnge hopes to open the 1500 Spring Garden Street facility by mid-2015.<\/p>\n

Built in phases starting in 1947, the 1.1 million-square-foot glass and concrete office tower served as the headquarters and manufacturing site for GlaxoSmithKline until the late 1990s, when the pharma company sold the asset to Amerimar Enterprises Inc. The Philadelphia Inquirer<\/a><\/em> reported that in early 2000s the new ownership invested $100 million to upgrade the 12-story building and redevelop it for office and telecommunications and data center use\u2014thanks to the building\u2019s location near Philadelphia\u2019s major fiber-optic-cable routes\u2014which pushed the occupancy up to nearly 80 percent at the time.<\/p>\n

In November 2013 CoStar<\/a><\/em> reported that the office tower at 1500 Spring Garden was acquired by a joint venture between The Nightingale Group and Carlton Associates, Inc. in a $184.5 million deal (or approximately $171 per square foot of space).<\/p>\n

Click here<\/strong> <\/a>for more market data on Philadelphia<\/strong>.<\/p>\n

 <\/p>\n

Image via 1500 Spring Garden<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

With Philadelphia being one of the densest cities in the US according to official data, the demand for data centers and interconnection services is on the rise as well. As a result, many data center-oriented companies are choosing Philadelphia in an attempt to meet the growing demand of for colocation facilities.<\/p>\n","protected":false},"author":258,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21742,1494],"tags":[1815],"class_list":["post-1004100659","post","type-post","status-publish","format-standard","hentry","category-data-centers","category-latest","category-philadelphia","tag-national"],"acf":[],"yoast_head":"\nvXchnge to Open New Data Center at 1500 Spring Garden Street - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/vxchnge-to-open-new-data-center-at-1500-spring-garden-street-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"vXchnge to Open New Data Center at 1500 Spring Garden Street\" \/>\n<meta property=\"og:description\" content=\"With Philadelphia being one of the densest cities in the US according to official data, the demand for data centers and interconnection services is on the rise as well. 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