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National Storage Affiliates Trust and Heitman Capital Management have secured two institutional lenders to provide approximately $643 million in 10-year secured debt to fund part of the acquisition.
Sabey Data Center Properties agrees to rent the entire top floor of its Lower Manhattan tower, known as the Verizon Building, to the architecture firm for 20 years.
The campus is currently used for administrative functions of the New York State Office for People with Developmental Disabilities, which occupies four buildings on the site as well as the on-site power plant. In March 2017, ESD issued a Request for Expressions of Interest for the site.