{"id":1004419627,"date":"2020-04-16T03:48:30","date_gmt":"2020-04-16T11:48:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004419627"},"modified":"2020-09-29T02:06:49","modified_gmt":"2020-09-29T10:06:49","slug":"landmark-dividends-122m-landmark-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/","title":{"rendered":"Landmark Dividend\u2019s $122M Landmark Acquisition"},"content":{"rendered":"
\"\"<\/a>

4010 N. Third St. Image courtesy of Landmark Dividend LLC<\/em><\/p><\/div>\n

Landmark Dividend LLC, of El Segundo, Calif., has acquired a data center campus<\/a> at 4010 N. Third St. in Phoenix. The terms of the transaction were not disclosed, but according to documents obtained by Commercial Property Executive<\/em>, the sale price was $122 million and the seller was PayPal Inc. The online payment company retains a lease on a portion of the property and up to 6.77 MW of power for up to eight years.<\/p>\n

\n

READ ALSO<\/strong>: Coronavirus Brings Challenges, Opportunities to Data Centers<\/a><\/p>\n

\n

Landmark\u2019s purchase of the 184,000-square-foot, 16-plus MW enterprise data center campus marks its expansion into the turnkey data center sphere. The facility is fortified with a storage warehouse and is designed for Tier IV compliance, offering full redundancy across its entire infrastructure, while providing access to more than 10 carrier networks onsite.<\/p>\n

The campus consists of three data center buildings completed between 2010 and 2014, along with a Tier IV office area, and currently has an immediate availability of up to 9 MW of capacity.<\/p>\n

Landmark has partnered with BCS, a Dallas-based critical facilities operations company, which will handle facility management, security, janitorial and IT services solutions. The JLL Data Center Solutions team in Phoenix is the facility\u2019s exclusive leasing agent.<\/p>\n

Active acquisitions, price compression<\/h2>\n

The Phoenix acquisition is the 16th data center asset acquired by Landmark\u2019s Digital Infrastructure Division in the last 18 months. Just since 2018, Landmark has bought data centers in eastern Washington, southern Virginia, Boston, Minneapolis, Charlotte, N.C., Indianapolis, Fort Lauderdale, Fla., Dayton, Ohio, St. Louis, Silicon Valley, Dallas, Columbus, Ohio, Milwaukee and Omaha, Neb., according to the company\u2019s website.<\/p>\n

The U.S. data center market remains strong, with 349.6 MW of absorption in 2019, as data center REITs outperform office and retail properties, JLL reported in March.  As prices compressed in markets across the country, the report noted: \u201cThis trend is driven by more providers entering the markets, large megawatt deals executed at lower rates and robust supply pipelines<\/em>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The company\u2019s purchase of a three-building campus in Phoenix marks its expansion into the turnkey data center sphere.<\/p>\n","protected":false},"author":882,"featured_media":1004419720,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21743,21783,21742,1601,15],"tags":[32796,50350,49204],"class_list":["post-1004419627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-deals","category-investment","category-latest","category-phoenix","category-west","tag-jll","tag-landmark-dividend","tag-paypal"],"acf":[],"yoast_head":"\nLandmark Dividend\u2019s $122M Landmark Acquisition - 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\/landmark-dividends-122m-landmark-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Landmark Dividend\u2019s $122M Landmark Acquisition\" \/>\n<meta property=\"og:description\" content=\"The company\u2019s purchase of a three-building campus in Phoenix marks its expansion into the turnkey data center sphere.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/\" \/>\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=\"2020-04-16T11:48:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-29T10:06:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/4010-N.-Third-St..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"666\" \/>\n\t<meta property=\"og:image:height\" content=\"499\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\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\/landmark-dividends-122m-landmark-acquisition\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/\",\"name\":\"Landmark Dividend\u2019s $122M Landmark Acquisition - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/4010-N.-Third-St..jpg\",\"datePublished\":\"2020-04-16T11:48:30+00:00\",\"dateModified\":\"2020-09-29T10:06:49+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/landmark-dividends-122m-landmark-acquisition\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/4010-N.-Third-St..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/4010-N.-Third-St..jpg\",\"width\":666,\"height\":499,\"caption\":\"4010 N. 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