New Continuum acquires flagship building
WEST CHICAGO -- IT infrastructure service provider New Continuum Holdings Corp. has acquired its flagship mission critical data center facility at 603 Discovery Drive in West Chicago.
The facility, which was officially acquired in late December, was originally built as a data center by the previous owner Post Road Group. The real estate bridge lender and investor in U.S. middle-market telecommunications infrastructure provided the senior debt financing for the transaction.
Terms of the acquisition were not announced.
The company, which operates New Continuum Data Centers, began leasing the property in 2013 when it commenced construction on a redevelopment project for the building. The company began operating a multi-tenant data center on the premises in 2015 when the initial construction was completed, and then added incremental cooling capacity in the summer of 2018.
"This is a major milestone for New Continuum," said Eli D. Scher, founder, chairman and CEO of New Continuum. "When we began this redevelopment project, it was always our objective to eventually own the underlying real estate asset as well. With this transaction completed, we can now begin the next chapter in New Continuum's evolution as an owner and operator of this critical data center."