Hartz Mountain Real Estate has closed the sale of 2 Emerson Lane in Secaucus, New Jersey with CoreSite Realty Corporation taking the leasehold interest in the industrial facility for $18.4 million. HFF's investment sales team, led by managing director Michael Nachamkin, represented Hartz in the transaction.
CoreSite Realty Corporation is the data center service provider chosen by more than 750 of the world's leading carriers and mobile operators, content and cloud providers, media and entertainment companies, and global enterprises to run their performance-sensitive applications and to connect and do business. CoreSite announced last month that it was under contract to acquire the 283,215 square-foot facility and would develop a new data center campus at the location, expecting to offer up to 18 critical megawatts of capacity. The currently-vacant two-story industrial property has office and showroom space plus a six-story, 634-space parking garage.
"CoreSite's entry into Secaucus is an important step in the execution of our strategy to extend our U.S. platform supporting latency-sensitive customer applications in network-dense, cloud-enabled data center campuses," said Tom Ray, President and Chief Executive Officer, CoreSite. "Our New York campus is designed to meet performance-sensitive customer requirements supported by our location at the nexus of robust, protected, low-latency network rings serving Manhattan as well as global cable routes to Chicago, Frankfurt, London, and Brazil. Additionally, customers are able to directly connect to service nodes for Amazon Web Services Direct Connect."
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