Leasing a Data Center for a Technology Company
We assisted a corporate technology company client with securing a 10-year lease of a data center in the Pacific Northwest from a leading national data center provider, with the option to renew the space for two additional five-year periods.
The building consists of more than 6,000 square feet of Tier 1 and Tier 3 data center and technology laboratory space, as well as almost 800 square feet of general office and 1,200 square feet of secure storage and staging area space. Our client has the right to expand the data center space by more than 2,000 square feet, and a right of first refusal on an additional 3,800 square feet of data hall space. Base rent will commence on June 1, 2021 for the Tier 1 and Tier 3 data center space at market rental rates.
Our client will begin construction in January 2021 to fit-out the space, with an improvement allowance contributed by the data center provider. The data center provider will also provide service center operations that include fire protection, environment control, security and monitoring the data hall power supply in accordance with the full service agreement terms on a 24-hour a day, 365 day per year basis.