In the post 9/11 environment, "mission critical data center" has become the buzzword, and MetroNexus has shifted its redevelopment in that direction with the appointment of Insignia/ESG as property manager of the facility, and Tishman Technologies as construction manager. Both firms are based in New York, and New York-based corporate tenants, especially of the financial variety, are the prime target for the multi-tenant facility. The next phase of the renovation will include a new entrance and lobby, new multiple security systems, a new façade and a variety of other improvements. The companies will also do tenant build-outs.

"The facility meets the stringent power, fiber and security requirements of our most demanding clients," according to Gregg Popkin, executive director of Insignia/ESG's property management group. "All of them are focused on business continuity planning, and many are looking for disaster recovery solutions to support their Manhattan operations."

A key element of the redevelopment is a "meet-me" room that serves as a central point of connectivity. Current carriers include Con Edison Communications, AT&T, Verizon and Looking Glass Networks, according to MetroNexus spokesperson Anne Katzen. 50 Dey Street is also located on the New Jersey power grid and has direct access to the Northeast Internet backbone, according to Katzen.

The renovation is being engineered by EYP Mission Critical Facilities and designed by Fox & Fowle Architects, both based in New York.

For its part, Insignia/ESG has been involved with the retrofitting of several major assets, most notably 111 8th Ave. in Manhattan and 470 Vanderbilt Ave. in Brooklyn. Tishman Technologies has a client list that includes several major financial firms, including Merrill Lynch and JPMorganChase, as well as companies like Level 3, Cable & Wireless, Nippon and Viatel. Recent New York projects include the Reuters Americas/Instinet headquarters in New York, and a 100,000-sf network information center for MCI.

"The building is ideally suited for redevelopment as a mission critical facility," according to Tishman EVP Rob Blackman. "The new power substation and the meet-me room under construction have transformed this heavy-duty industrial building into a state-of-the-art data center."

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