DALLAS – (Realty News Report) – Equinix Inc. has agreed to acquire the 1.6 million-SF Infomart building on the northwest side of downtown Dallas for $800 million.
The building, located on the Stemmons Freeway, was developed by Trammell Crow over 30 years ago.
ASB Real Estate Investments is the seller, in the deal, which has one of the largest sales prices ever for a North Texas deal.
Equinix, a Redwood City, Calif.-based interconnection and data center firm, is one of the firms that currently has data centers in the Infomart building. An adjacent tract has development potential.
The sale is expected to close in mid-2018. Payment will include $31 million in cash, plus $750 million in unsecured notes.
The Infomart building generated $50 million of revenues in 2017, of which $20 million was attributed to rent and maintenance recoveries from Equinix, as a tenant.
