As an entry into the Atlanta market, the company's real estateunit bought a 30,000-sf industrial building in West End. Global NAPpaid $812,000 or $27.06 per sf for the structure. The seller wasSwartzberg Investments.
West End now counts at least five purchases and conversions ofindustrial buildings into collocation and switching centers withinthe last year.
Counting Global NAP's 30,000-sf building, nearly 800,000 sf ofindustrial space has been or is being revamped for the new economyindustry. Rental rates for the telecom space are ranging between$15 per sf and $25 per sf.
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