{"id":1004200496,"date":"2017-12-13T05:17:57","date_gmt":"2017-12-13T13:17:57","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200496"},"modified":"2022-12-08T15:56:27","modified_gmt":"2022-12-08T23:56:27","slug":"iron-mountain-forges-u-s-expansion-with-1-3b-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/","title":{"rendered":"Iron Mountain Forges U.S. Expansion with $1.3B Deal"},"content":{"rendered":"

By Gail Kalinoski<\/p>\n

\"One<\/a>

One of Iron Mountain’s recently acquired data centers at 615 N. 48th St. in Phoenix<\/p><\/div>\n

Iron Mountain, a leading storage and information management services company, continues its expansion into the data center market with the planned $1.3 billion acquisition of the U.S. operations of Phoenix-based IO Data Centers LLC.<\/p>\n

The announcement comes about three months after the Boston-based company opened its fifth data center in the United States in Manassas, Va. The company invested more than $80 million in the 165,000-square-foot and 10.5-megawatt facility, the first phase of the Northern Virginia project<\/a>. A total investment of more than $350 million in four data centers is planned there.<\/p>\n

With the IO Data Centers deal, Iron Mountain will acquire the land and buildings of four data centers in Phoenix and Scottsdale, Ariz.; Edison, N.J.; and Columbus, Ohio. The existing data center space in the four facilities totals 728,000 square feet and provides 62 megawatts of capacity with expansion potential of an additional 77 MW in Arizona and New Jersey.<\/p>\n

More Data Center Deals<\/h2>\n

This agreement follows the acquisition of FORTRUST, a Denver colocation provider and its 210,000-square-foot data center, on Sept. 1 and the announcement in October that Iron Mountain was expanding outside the U.S. with the planned purchase of two Credit Suisse data centers in London and Singapore.<\/p>\n

When the IO and Credit Suisse deals close in early 2018, Iron Mountain\u2019s data center portfolio will total more than 90 MW of existing capacity with an additional 26 MW of capacity under construction and planned and future expansion potential of another 135 MW.<\/p>\n

\u201cWe continue to experience strong demand and growth in our data center business, with a focus on establishing a presence in the largest global markets for colocation and enterprise customers. Our strategy includes organic expansion within our existing footprint, greenfield development in the largest U.S. markets such as our newly opened campus in Northern Virginia, and targeted acquisitions of properties with customer profiles that closely mirror our own,\u201d<\/em> William Meaney, president & CEO of Iron Mountain, said in a prepared statement.<\/p>\n

Mark Kidd, senior vice president & general manager, Iron Mountain Data Centers, said the IO deal will add more than 550 customers that include blue chip financial services, aerospace, federal government and technology companies.<\/p>\n

\u201cThe addition of IO\u2019s data centers enhances our geographic diversification and provides market-leading exposure to Phoenix, the fourth fastest market for absorption in the U.S. in 2017 and the 12th largest data center market globally,\u201d<\/em> Kidd said in prepared remarks.<\/p>\n

\u201cImportantly, this transaction also enhances our ability to support the needs of the largest cloud providers through new development with expansion capacity in Phoenix as well as New Jersey, another attractive market due to its proximity to the New York metro area,\u201d<\/em> Kidd added.<\/p>\n

Ardea Partners LLC, Evercore and Centerview Partners LLC are serving as financial advisors to Iron Mountain. Morgan, Lewis & Bockius LLP, Sullivan & Worcester, Weil, Gotshal & Manges LLP are serving as legal counsel to Iron Mountain.<\/p>\n

Goldman, Sachs & Co. is IO\u2019s financial advisor and Simpson Thacher & Bartlett LLP is providing legal counsel to IO for the transaction.<\/p>\n

Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

With the IO Data Centers deal, Iron Mountain will acquire the land and buildings of four data centers in Phoenix and Scottsdale, Ariz.; Edison, N.J.; and Columbus, Ohio.<\/p>\n","protected":false},"author":1068,"featured_media":1004200500,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21743,21808,21783,23891,21742],"tags":[34106,33435,37619],"class_list":["post-1004200496","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-deals","category-featured","category-investment","category-national","category-latest","tag-credit-suisse","tag-goldman-sachs","tag-iron-mountain"],"acf":[],"yoast_head":"\nIron Mountain Forges U.S. Expansion with $1.3B Deal - 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\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iron Mountain Forges U.S. Expansion with $1.3B Deal\" \/>\n<meta property=\"og:description\" content=\"With the IO Data Centers deal, Iron Mountain will acquire the land and buildings of four data centers in Phoenix and Scottsdale, Ariz.; Edison, N.J.; and Columbus, Ohio.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-13T13:17:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T23:56:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/\",\"name\":\"Iron Mountain Forges U.S. Expansion with $1.3B Deal - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg\",\"datePublished\":\"2017-12-13T13:17:57+00:00\",\"dateModified\":\"2022-12-08T23:56:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg\",\"width\":800,\"height\":620,\"caption\":\"One of Iron Mountain's recently acquired data centers at 615 N. 48th St. in Phoenix\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Iron Mountain Forges U.S. Expansion with $1.3B Deal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Iron Mountain Forges U.S. Expansion with $1.3B Deal - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/","og_locale":"en_US","og_type":"article","og_title":"Iron Mountain Forges U.S. Expansion with $1.3B Deal","og_description":"With the IO Data Centers deal, Iron Mountain will acquire the land and buildings of four data centers in Phoenix and Scottsdale, Ariz.; Edison, N.J.; and Columbus, Ohio.","og_url":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-12-13T13:17:57+00:00","article_modified_time":"2022-12-08T23:56:27+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/","url":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/","name":"Iron Mountain Forges U.S. Expansion with $1.3B Deal - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg","datePublished":"2017-12-13T13:17:57+00:00","dateModified":"2022-12-08T23:56:27+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg","width":800,"height":620,"caption":"One of Iron Mountain's recently acquired data centers at 615 N. 48th St. in Phoenix"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/iron-mountain-forges-u-s-expansion-with-1-3b-deal\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Iron Mountain Forges U.S. Expansion with $1.3B Deal"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/615-N.-48th-St.-in-Phoenix.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004200496","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004200496"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004200496\/revisions"}],"predecessor-version":[{"id":1004200506,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004200496\/revisions\/1004200506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004200500"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004200496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004200496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004200496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}