GI Partners just expanded its very high profile ‘technology’ property portfolio. With its recent acquisition of KOMO Plaza for $276M, a state-of-the-art carrier hotel and data center facility, GI Partners now has the entire U.S. West Coast covered. As a leading alternative asset manager, San Francisco-based GI Partners also owns the iconic One Wilshire building, located in downtown Los Angeles, which serves as one of the most comprehensive U.S. network gateways to Asia and West Coast interconnection environments.
KOMO Plaza is located at 100 and 140 Fourth Avenue North in Seattle, WA – steps away from Seattle’s Space Needle. A highly resilient two-building campus, KOMO Plaza offers data center, network neutral interconnections and a class A office space across 294,000 square feet.
With a 15-year history of investing in data centers, carrier hotels and other technology-advantaged real estate, GI Partners has a very technology-focused approach to real estate. Both KOMO Plaza and One Wilshire offer enterprises, service providers, and telecommunication companies flexible and reliable infrastructure and unmatched access to domestic fiber routes and transpacific undersea cables.
“The acquisition of KOMO Plaza further expands GI’s portfolio of technology-advantaged real estate and exemplifies its strategy of leveraging the firm’s operational excellence, technical knowledge, and market expertise to acquire properties with significant critical building infrastructure,” stated Tony Lin, Director of GI Partners. “GI Partners is well positioned to offer tenants and users connectivity along the West Coast through KOMO Plaza and its sister carrier hotel, One Wilshire.”
The transaction was brokered by Jones Lang LaSale Real Estate Services, Inc.
“This was a unique property in that it’s one of just three key telecommunications carrier hotels in the Northwestern United States and one of just two purpose-built telecommunications centers in Seattle,” said Conan Lee, Managing Director of Jones Lang LaSale Real Estate Services. “We continue to see very high demand for data centers in the region as the tech and media sectors work to expand their footprint.”
“This region, including Western Canada, has always attracted data center tenants because of the technology tenant base, the robust telecom infrastructure grid and the low latency to Asia,” added Lee. “However, a new demand has recently surged to support the need for content delivery and new telecommunications services.”