DALLAS – Lincoln Rackhouse this month will break ground on a major build-to-suit telecom switch center for a leading US mobile network provider, solidifying its offering as a mission-critical developer.
In a sale-leaseback agreement, the 35,000-sf data center is secured by a 20-year prelease with renewal options. The 4.3-acre development site is located in a heavy industrial corridor of Sunrise, Fla. The network provider has requested anonymity and is not disclosing the site's address due to security concerns.
Ryan Sullivan, managing director of Dallas-based Lincoln Rackhouse, is spearheading the Florida project and leads the data center development program nationwide for Lincoln Property Co. Lincoln Property's South Florida office will oversee development and management of the design-build project, slated to deliver in the fourth quarter.
The mobile network provider's stand-alone switch center will significantly expand its delivery platform in the region. The network provider had purchased the site and began early planning and design for the development. The sale-leaseback opportunity went out for bid about one year ago, triggering a highly competitive process among data center developers. Bo Bond and Ali Greenwood, directors of JLL's Data Center Solutions, represented the network provider in the sale-leaseback agreement.
"We won this contract because we have access to the right capital partners, strong local resources and experience to get the job done in an efficient and cost-effective manner," Sullivan says.
Lincoln Rackhouse's design-build team includes Houston-based Burr Computer Environments Inc., an engineering firm specializing in mission-critical mechanical systems and infrastructure. Gensler is the project architect. Smith Commercial Contracting Inc. of Houston is the general contractor.
"This project allows Lincoln Rackhouse to demonstrate the depth of its capabilities in financing and efficiently executing ground-up data center development," Sullivan says. "The process of
completing this transaction was a true partnership between Lincoln, the network provider and our construction team to facilitate a sophisticated engineering and construction process with lease terms that make sense for all parties."
Lincoln Rackhouse primarily has concentrated on value-add acquisitions and enterprise sale-leasebacks of mission-critical properties, resulting in a transactions volume topping one million sf to date. Its key platform for growth is focused on build-to-suit and design-build projects, which Sullivan is aggressively pursuing nationwide while continuing to pursue investments to grow the portfolio. With 40 offices in the U.S., Lincoln Property offers "boots on the ground" oversight and management for the highly specialized development and ownership program.
"Data centers have become a new stand-alone asset class. With this project, we've added build-to-suit data center development to Lincoln's offerings," Sullivan says. "Other mission-critical build-to-suits are on the horizon."
Ryan Sullivan, 214.740.4399
About Lincoln Rackhouse
Lincoln Rackhouse is the data center division of Lincoln Property Co. and focuses on helping organizations of all sizes locate, analyze and secure data center space to lease or own. Dallas-based Lincoln Property Co. has earned its reputation as effective, professional managers of residential and commercial properties with more than 50 years of experience in building, owning and managing one of the largest commercial real estate portfolios in the United States. With 20 years of experience sourcing mission critical data centers, Lincoln Rackhouse offers unparalleled market and industry knowledge with an unbiased approach in fulfilling technology requirements.