Amerimar Enterprises announces the acquisition of 717 South Wells Street, a 100,000 square foot fiber-rich building located in Chicago, IL. Amerimar Enterprises is once again partnering with telecom industry veteran, Hunter Newby to own and operate the Property.
717 South Wells, originally constructed in 1923, was strategically redeveloped from a manufacturing facility to a telecom carrier hotel by the prior owner in the late 1990s. The 10-story, 100,000-square-foot property is one of the most fiber-dense, network-neutral facilities in Chicago. The building serves as a major hub for data and Internet traffic and provides reliable network interconnection infrastructure for carriers, service providers, and enterprise customers. The building’s location is of particular interest to telecom businesses, as it is a gateway to the local fiber backbone in Chicago as well as a primary access point for long-haul fiber in the region.
The building also provides highly reliable data center operations with its robust floor loads, power and HVAC infrastructure.
Ropes & Gray LLP, with a team led by partner Walter R. McCabe III, represented the buyer on the acquisition. Five 9’s Digital and Romans Properties brokered the transaction.