Equinix Completes $3.6B Acquisition Of 29 Data Centers From Verizon
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Data Center Equinix Inc. completed its $3.6B acquisition of 29 data centers from Verizon Communications Inc.
The deal involved approximately 3M SF of data center space and more than 1,000 customers, which Equinix said will better position the company to improve IT operations to connect people, properties and data. The properties are spread across 15 North and Latin American cities and boost Equinix’s global footprint to 17M SF, covering roughly 175 data centers in 44 markets.
Data centers are one of the strongest sectors in today’s commercial real estate environment, yielding an average 9.5% return in Q1. This deal signals continued strength and robust activity ahead for the sector, as demonstrated by Google’s 1,200-acre Nevada data center land grab last month.