BYTEGRID Holdings, a Northern Virginia-based investor, developer and operator of multi-tenant data center facilities, acquired a 70,000-square-foot data center in Aurora, IL from Continental Casualty Co. for $30.35 million, or about $434 per square foot.
The data center is located about 30 miles west of downtown Chicago at 4267 Meridian Parkway. The building sits on a 5.25-acre corner lot and delivered in 2007. BYTEGRID acquired the property in a partial sale leaseback and plans to develop the remainder of the building into a multi-tenant center. The company will look to lease out approximately 25,000 square feet.
Gregory Gerber, Scott Merz and Kevin McLennan of Studley represented Continental Casualty Co., an affiliate of commercial insurance writer CNA Financial Corp. CNA will continue to occupy roughly 30% of the property on a newly created long-term lease deal. BYTEGRID Holdings was represented in-house. BYTEGRID Holdings Pays $30M for Aurora Flex Building
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