Infomart Dallas Building Listed for $800 Million Sale
Infomart near downtown Dallas
DALLAS – (Realty News Report) – Equinix Inc. has agreed to acquire the 1.6 million-square-foot Infomart building on the northwest side of downtown Dallas for $800 million.
Located on the Stemmons Freeway, the Infomart was developed by Trammell Crow more than 30 years ago and has long served as a major hub for technology and data-related tenants.
ASB Real Estate Investments is the seller in the transaction. The sale ranks among the largest real estate deals in North Texas in recent years.
Equinix, the Redwood City, California–based interconnection and data center company, already operates data centers within the Infomart. In addition to the building itself, an adjacent tract offers further development potential for future expansion.
The transaction is expected to close in mid-2018. The purchase consideration includes $31 million in cash and $750 million in unsecured notes.
In 2017 the Infomart generated $50 million in revenue; approximately $20 million of that total came from rent and maintenance recoveries paid by Equinix as an existing tenant.
