Office Midwest

Peerless Network signs long-term lease at 840 S. Canal

Cushman & Wakefield has negotiated a 12,600-square-foot lease for Peerless Network Inc at Server Farm Realty Inc.'s Chicago data center facility.

Peerless Network, Inc., a national provider of enterprise telecommunications and carrier interconnection services, announced that the company has signed a long-term lease with Server Farm Realty, Inc. The lease of a new, 12,600-square-foot data center facility in downtown Chicago will be used to accommodate its network growth and launch a new collocation services offering. Alex Smith, a senior director of Cushman & Wakefield of Illinois, Inc. (C&W), represented Peerless Network in the transaction. Chad Freese and Aaron Kulick of CBRE, Inc. represented Server Farm Realty.

"Due to Peerless' rapid growth, our network has grown to include five major POPS in Chicago alone, and the new data center will allow us to consolidate them into a state of the art facility.  We plan to invest nearly $5 million into the new site by the time it opens in the first quarter of 2012.  The new facility will give Peerless much more flexibility to accommodate its rapidly growing customer base by allowing us to quickly add capacity," said John Barnicle, President & CEO of Peerless in a release.

The Peerless Network data center will be located within Server Farm Realty’s new 443,446-square-foot redevelopment on 5.2 acres at 840 S. Canal Street.  The eight-story building  has access to 15 carriers including AT&T, Verizon, AboveNet, 360 Networks, Cogent, CFN, Fiberlink, Level 3, CenturyLink/Qwest, Zayo, XO, Synesys, Intellifiber, Global Crossing and Paetec. Server Farm Realty has engaged in an upgrade of the building’s Total Electrical Service to 40 mW.  134,000 square feet of raised floor data center space is available for lease in flexible suites as small as 1,000 kW each.