“Velocis capitalized on a unique opportunity to secure this property for its important location at the cross roads of Charlotte’s colocation and connectivity network,” said Jim Yoder, Velocis Principal. “The asset’s status as a prime fiber optic hub combined with the abundant power and security the building offers tenants, creates a significant untapped opportunity.”
The two-story building, which offers expansion opportunities, was built in 1968 and is currently more than 80 percent leased. Significant long-haul fiber routes originate from all directions through the building and it draws a wide array of telecommunications and colocation data center users. Additionally, it is ideally located close to multiple data centers and telecommunication companies including the area’s main AT&T switch.
Velocis partnered with Lincoln Property Company on the acquisition. “Charlotte offers a dense telecommunication infrastructure that is on par with any Tier 1 city,” said Martin Peck of Lincoln’s data center division, Lincoln Rackhouse. The facility will be leased and managed by Lincoln Harris.
Dallas-based Velocis, has been active in real estate investment since 2011, purchasing 18 assets located in markets in Texas, Colorado, Georgia, Florida, North Carolina and Arizona. Launched in 2010, the Fund is led by principals Fred Hamm, Mike Lewis, Paul Smith, Jim Yoder and David Seifert.
Velocis consists of two entities: Velocis Fund, LP and Velocis Advisors, LLC. Velocis Funds are private equity real estate funds, active in the acquisition, operation/management, and disposition of commercial real estate in the United States. Additionally, Velocis Advisors provides asset management and advisory services to both investors and real estate clients.
About Lincoln Rackhouse
Lincoln Rackhouse is the data center division for Lincoln Property Company. Headquartered in Dallas, Texas, Lincoln Property Company is one of the largest and most respected diversified real estate services companies in the industry. The Company employs over 4,000 professionals in over 100 markets in the United States and Europe.
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