GI Partners has acquired 492 River Road, a Nutley, New Jersey-based office and data center property. No financial terms were disclosed. BT Americas Inc leases the entire property on a long-term basis.
SAN FRANCISCO, February 21, 2018 – GI Partners, a leading private investment firm, today announced the acquisition of 492 River Road in Nutley, New Jersey. 492 River Road is a mission critical facility totaling approximately 130,000 square feet. Fully renovated in 2000 and further updated in 2009, the secure office and data center property features robust infrastructure, significant connectivity with access to 13 telecommunications providers in two meet-me-rooms, plus an expandable onsite substation. BT Americas, Inc., a division of British Telecommunications plc (“BT”), leases the entire property on a long-term basis where it provides a variety of services including disaster recovery, cloud, and managed services solutions.
In addition, 492 River Road is one of the core BT Radianz Compute locations, where the company hosts and manages platforms for its capital markets customers. These platforms are part of the BT Radianz Cloud, which supports a global community of thousands of financial markets institutions and over 400 service providers.
“We are very pleased to form a long-term relationship with BT,” commented Michael Wong, Director of GI Partners and co-head of acquisitions for GI’s technology real estate investment programs. “BT’s recent long-term lease extension and its focus on continuing and expanding its service offerings to a wide range of clients in its Nutley location make it a very attractive addition to our technology-advantaged real estate portfolio.”
This building adds to the data center portfolio owned and managed by GI Partners, which now totals 22 properties comprising 5.3 million square feet across 13 different leading data center markets.
About GI Partners
GI Partners is a leading private investment firm based in San Francisco, California. The firm has raised over $16 billion in capital through private equity and real estate strategies from recognized institutional investors across the world. GI Partners’ real estate team invests across a number of property types and investment strategies, including platforms focused on logistics-based warehouse and distribution facilities, transit-oriented multifamily development, student housing, and technology-advantaged properties. For more information on GI Partners, please visit www.gipartners.com.