A partnership between Voit Development Co. and Buchanan Street Partners has acquired a 428,000-square-foot industrial/warehouse and data center building in Irvine, Calif., for approximately $57 million.
The seller, Nexus Windstar, purchased the building in 2000 and leased it to Exodus Communications, who put $45 million of capital improvements into the data center portion of the property.
SAVVIS Inc. is now leasing the 126,000 square-foot of data center to provide off-site data storage and backup computer systems for its clients.
The partnership plans to offer 303,000 square feet of available industrial/warehouse space for lease either to a single tenant or up to three tenants.
The building is also situated with 3.5 acres of excess land, allowing for the prospect of expansion or additional development opportunities for Voit in the future. The partnership plans to conduct minor capital improvements to renovate the building and interior upgrades to the facility.