Summary
Equinix, Inc. (EQIX) has entered into a definitive agreement to purchase the Beaumeade Business Park in Ashburn, Virginia, for approximately $53 million in cash. This 32.6-acre complex includes six buildings with 461,700 rentable square feet, currently 95% leased. Notably, Equinix is already a tenant in three of these buildings and plans to continue operating its existing data centers within the park. The acquisition is strategic, aiming to consolidate operations and potentially expand its data center footprint. Equinix has posted a $10 million non-refundable deposit, with closing expected by October 18, 2005. The company also intends to divest buildings not needed for expansion and explore long-term financing options for retained properties.
Key Highlights
- 1Equinix to acquire Beaumeade Business Park in Ashburn, Virginia for approximately $53 million.
- 2The acquisition includes 32.6 acres and 461,700 rentable square feet across six buildings.
- 3The park is currently 95% leased, providing immediate rental income.
- 4Equinix is an existing tenant in three of the acquired buildings.
- 5A $10 million non-refundable deposit has been made.
- 6Closing of the transaction is scheduled for on or before October 18, 2005.
- 7Equinix plans to sell unused buildings and explore financing for retained properties.