While much of the state is still busy recovering from Sandy prior to the onset of winter, Digital Realty Trust (NYSE:DLR, news, filings) has been on the move in New Jersey. The data center REIT added a turn-key lease customer yesterday, and bought a new property to develop this morning.
At the company’s Piscataway facility, they announced that Logicworks has signed on for space in a lease that started last quarter. Logicworks supplies managed hosting and cloud computing facilities, and needs some room to expand into. The cloud revolution has been quite a boon to the REIT industry, bringing in plenty of new customers with big plans that require the latest in data center technology.
Meanwhile, Digital Realty also kept the funnel moving at the other end by purchasing a new property to develop into a data center. They’ve spent $16.8M to buy 701 Union Blvd in Totowa, 20 miles west of the George Washington Bridge and just south of Route 46. For those, like me, that have lived near there, it’s about a mile due east of the Willowbrook Mall. They’ll be redeveloping the 271,000 square foot building on just over 34 acres of land, and bringing in 15.75MW of power and eventually a 50MVA onsite substation for later expansion.
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