Tuesday, January 19, 2010

Sabey to build datacenters worths $100 Million

Bangalore: Commercial real estate developer Sabey has landed a $100 million investment from a new financial partner that will allow it to build as many as 15 new data centers in the U.S., reports Puget Sound Business Journal.

This investment by National Real Estate Advisors will enable Seattle based Sabey to expand its datacenter holdings beyond Washington. Sabey is cashing in on the growing demand for data management as companies move more of their operations online, and doing it at a time when funding for commercial real estate development is tight.

Sabey's Founder and President, Dave Sabey has formed a new company to manage the datacenter expansion. His son, John Sabey will run the new Sabey DataCenter Properties; Dave Sabey will remain majority stakeholder.

Currently, Sabey has 1.7 million square feet of datacenter space in Washington: two datacenters in Tukwila, one each in Seattle and Wenatchee, and one under development in Quincy.

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