Netrality Properties Acquires 1301 Fannin Street in Houston, TX
Released on Feb 10, 2015
Houston, TX (February 10, 2015) – Netrality Properties announces the acquisition of 1301 Fannin Street, a 1,100,000 square foot fiber-rich building located in Houston, TX.
1301 Fannin Street was originally developed in 1981 as an enterprise data center and office building. It was later converted to a telecom carrier hotel and office building. 1301 Fannin houses over a dozen networks and nearly 400,000 square feet of data center space, with additional square footage available to be converted to network colocation use. Netrality intends to undertake immediate construction work at the property, including development of a new "Meet Me Room" to draw additional network operators to the building. The first phase of Netrality's owner-operated, carrier-neutral "Meet Me Room" is scheduled to open in mid-2015, affording new and existing customers the opportunity to interconnect with one and other reliably and cost effectively. Netrality will also be developing plans to convert two floors for additional data center space, which could add up to 100,000 square feet of additional data center, pending tenant demand.
Netrality intends to employ an aggressive lease-up strategy on the current vacancy at 1301 Fannin and has engaged Lee and Associates to spearhead the leasing effort. Lee and Associates recently partnered with Griffin Partners, which was the prior owner and manager of 1301 Fannin. “Under the stewardship of Griffin Partners, 1301 Fannin was renovated and repositioned into a multi-tenant, class A office and data center facility,” states Gerald Marshall, President and CEO of Netrality, “and we look forward to building on Griffin’s legacy and continuing to enhance the profile of this excellent asset.”
The 25-story, 1,100,000-square-foot property is one of the most fiber-dense, network-neutral facilities in Houston. The building serves as a major hub for data and Internet traffic and provides reliable network interconnection infrastructure for carriers, service providers, and enterprise customers. The building also provides highly reliable data center operations with its robust floor loads, power and HVAC infrastructure.
"1301 Fannin Street is an excellent addition to our growing carrier hotel platform," adds Hunter Newby, Chief Strategy Advisor of Netrality. "As the fourth largest city in the United States, Houston is a critical location for network operators. Further, its proximity and direct network access to Mexico and the Gulf of Mexico make it a global gateway and therefore strategic for us and our customers."
Pat Morrissey of Morrissey Realty represented Netrality on the transaction.
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About Netrality Properties
Netrality Properties integrates the ownership of carrier hotel real estate and the operation of data center colocation, providing network neutral "Meet Me Room" environments with long-term stability and no monthly recurring charges for cross connections. Netrality Properties currently owns approximately 3 million square feet of carrier hotel property including 325 Hudson Street in New York (owned in Joint Venture with Jamestown, LP), 401 North Broad Street in Philadelphia, 1102 Grand in Kansas City, and 717 South Wells in Chicago. Netrality is a joint venture operated by affiliates of Amerimar Enterprises and Hunter Newby. For more information on Netrality Properties, please visit www.netralityproperties.com.
For more information please contact:
Jaymie Scotto & Associates
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