News & Events

LINCOLN RACKHOUSE acquires BYTEGRID and gets three data centers

Lincoln Rackhouse, the data center division of Lincoln Property Company has announced its complete acquisition of Bytegrid – a Colocation and Service Management Company.

Just like 2018 acquisition of three data centers from an enterprise tenant, Lincoln Rackhouse still partners with Principal Real Estate Investors for the acquisition of Bytegrid and all its assets which includes three data centers in Washington, D.C., Chicago and Seattle markets and the entirety of the company’s existing colocation, managed services, network and hosting business.

 

“We have been working hard over the past two years to augment our platform and capabilities to better serve our clients across the U.S., adding several new end user and operator tenants to our roster and amping up our facilities, property management and sales teams,”
Martin Peck, Executive Vice President of Lincoln Rackhouse.

This acquisition expands Lincoln Rackhouse footprint by 320,000 square feet (29,800 square meters) with an additional 16MW of IT power load. This brings Rackhouse footprint to a total of 2.5 million square feet (230,000 square meters) and over 100MW of IT power load that cuts across 16 locations in 14 markets.

“We’re excited to expand our existing relationship and successful track record in the data center sector with Lincoln Rackhouse through this acquisition. Together with the team at Lincoln Rackhouse, we’ve created a proven model of strategically acquiring premium-quality data center assets and securing leases with cloud and colocation operating partners,”
Ben Wobschall, Director of Acquisitions for Principal Real Estate Investors.

 

Lincoln Rackhouse stated that; with this acquisition, the company can immediately offer availability to end users, cloud providers, managed and colocation service operators in the Seattle, Washington, D.C., and Chicago markets. The company added that customers can now benefit from added space and power across these three new markets, plus an expanded presence on the West Coast.

“While our non-compete commitment to our current customers and operating partners remains, the Bytegrid acquisition is indeed all-encompassing, including the operational management and services business of three colocation sites. We do look forward to integrating these facilities into our nationwide portfolio and marketing those solutions to operators in the industry. We’re excited to further explore the interest that has been shown in these assets thus far now that we’ve closed the rather complex acquisition.”
Ben Wobschall, Director of Acquisitions for Principal Real Estate Investors.