fifteenfortyseven Critical Systems Realty (1547), a developer, operator, and owner of highly-interconnected, custom-designed data centers in North America, has partnered with Harrison Street, an investment management firm, to purchase the Chase Tower in McAllen, TX. The building is considered by market observers to be a primary internet exchange location for telecommunication traffic between Texas and Mexico. This is 1547 and Harrison Street’s seventh data center endeavor since 2020.
With over 209,000 square feet in the 17-story building in McAllen, TX, the Chase Tower is both a telecommunication hub and internet gateway between Mexico and the United States and serves as the financial hub for the greater Rio Grande Valley. With 46 unique carrier networks established in this telecommunications ecosystem, the parties say Chase Tower is one of the Southwest’s major carrier hotel and data center destinations. The property’s two-carrier neutral meet-me-rooms provide customers access to short-haul, long-haul, and dark fiber providers.
“1547 continues to move forward on its mission to create an ecosystem of highly dense and interconnected data centers in key markets throughout the United States,” says 1547 CEO J. Todd Raymond. “1547 is listening to our enterprise customers, digital content distributors, and hyperscale cloud providers who are seeking connectivity in these crucial edge markets. With the purchase of Chase Tower, we are creating the opportunity for our customers to have an access point to do business with Mexico and other Latin American countries via the expansive Texas-based fiber networks.”
Michael Hochanadel, Managing Director and Head of Digital Assets at Harrison Street said, “Today’s acquisition of the Chase Tower is an important addition to our connectivity-focused data center platform that includes Pittock Block in Portland, OR, and the Wells Building in Milwaukee, WI. Located less than ten miles from the Mexican border, Chase Tower is designed to serve as a gateway for international data transmission and advance our strategy to create data center options in attractive carrier-dense markets
With this strategic purchase, 1547 and Harrison Street also acquired CarrierCom, a single-location data center provider located in the Chase Tower. 1547 said it will have immediate colocation and data center inventory in the building with additional availability of conditioned space and power coming online in 2024.
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