SAN FRANCISCO, April 27, 2017 /PRNewswire/ -- GI Partners ("GI") announced today that it has expanded Zayo Group, a leading provider of communications infrastructure services, as a data center tenant in the One Wilshire building, located at 624 S. Grand Avenue in Los Angeles. Zayo will occupy over 24,000 square feet in order to supply high-quality infrastructure to its clients in one of the West Coast's premier data center ecosystems.
Separately, GI Partners has also announced that it has commenced work to add an additional nine megawatts of utility power to One Wilshire, along with associated cooling and emergency power generator infrastructure. At completion of the installation, estimated for summer 2018, One Wilshire will have a total utility capacity of 30 megawatts, with all nine megawatts of newly added incremental power available immediately for new leasing.
"We are excited to work with Zayo Group to accommodate its expansion at One Wilshire and to begin the building's next phase of infrastructure buildout," said Tony Lin, Director at GI Partners. "One Wilshire serves as one of the most comprehensive United States network gateways to Asia and West Coast interconnection environments and Zayo Group's increased presence underscores as well as strengthens these key attributes. One Wilshire offers enterprises, service providers, and telecommunication companies flexible and reliable infrastructure with unmatched access to domestic fiber routes and transpacific undersea cables."
One Wilshire is the preeminent point of connectivity between North America and Asia, making it one of the most significant carrier hotels in the world. Customers are able to connect to over 240 carriers within the building, along with nearly 110 cloud and IT service providers. Together with KOMO Plaza, GI Partners is able to offer unmatched carrier neutral connectivity to all major telecommunications and cloud providers along the West coast.
One Wilshire is owned through TechCore, L.P. ("TechCore"), a fully discretionary core real estate fund managed by GI Partners on behalf of The California Public Employees' Retirement System ("CalPERS"). TechCore was formed in early 2012 to acquire technology-advantaged properties, including data centers, internet gateways, corporate campuses for technology tenants, and life science properties located in core MSAs and leased to industry-leading tenants. Since inception, TechCore has acquired over 3.3 million square feet of mission-critical data center, life science, and office properties throughout the United States.
About GI Partners
Founded in 2001, GI Partners is a leading private investment firm based in San Francisco, California. The firm currently manages over $14 billion in capital commitments through private equity and real estate strategies for recognized institutional investors across the globe. GI Partners' real estate team invests across multiple property types and investment strategies, including platforms focused on logistics-based warehouse and distribution facilities, transit-oriented multifamily development, and technology-advantaged properties. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.
Chris Tofalli Public Relations
GI Partners Investor Relations
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/gi-partners-announces-zayo-group-expands-presence-at-one-wilshire-300447594.html
SOURCE GI Partners