Menlo Equities has completed the acquisition of four Digital Realty data centers in Silicon Valley. The firm acquired the facilities for a combined $108.8 million. First, it acquired a facility at 4650 Old Ironside Drive in Santa Clara for $35.8 million. The facility has 124,400 square feet of space, and it is being operated by Cyxtera. It acquired the second data center at 4700 Old Ironsides Drive in Santa Clara for $28 million. Cyxtera is also operating the 90.100 square feet facility. Menlo’s third acquisition is at 444 Toyama Drive in Sunnyvale for $25.6 million. Equinix currently operates the 42,100 square feet data center. Finally, Menlo acquired a 69,700 square feet facility at 2950 Zanker Road in San Jose for $19.4 million.
Christopher Chang, a partner with Menlo Equities, said the acquisition of the facilities is because of the increase in the demand for data. He added that the firm likes the facilities because most of them are fully leased. Chang further noted that Menlo could potentially get better opportunities since leases in some of the buildings are close to renewal.
