CRE Midwest

Data Stream signs long-term lease at CBOT building

Data Stream LLC has signed a 7,882-square-foot lease at the Chicago Board of Trade Building. The company plans to build and maintain one of the highest connected, conveniently located and service oriented data centers in the industry.

CBOTData Stream LLC has signed a 7,882-square-foot lease at the Chicago Board of Trade Building. The company plans to build and maintain one of the highest connected, conveniently located and service oriented data centers in the industry.

“It’s an honor to provide the needed high tech data center facilities for the Chicago Board of Trade Building and its esteemed tenants,” said Data Stream President and CEO Ronald Bailey. “To be a moving part of the technological growth at the epicenter of the financial district and of such a historical landmark in the great city of Chicago is exciting for the Data Stream team.”

Houston-based Data Stream officially entered the Chicago market in August 2013 when it signed a 1,459-square-foot lease at the Chicago Board of Trade Building to house its regional sales team. Citing the building’s robust technology infrastructure, along with ownership’s desire to attract technology-based tenants, Data Stream felt the timing was right to increase its presence in Chicago.

GlenStar Properties LLC and partner USAA Real Estate Company purchased The Chicago Board of Trade Building in April 2012. The acquisition marked the first time in the property’s 83-year history it was not owned by the exchange. Since then, the new ownership team has embarked on a significant capital campaign aimed at breathing new life into the landmarked property and attracting a more diverse tenant base.

“One of the primary reasons we purchased the complex was because of its unrivaled power, cooling and connectivity plant,” said GlenStar Managing Director Christian Domin. “Data Stream’s lease and operation is a keystone of our overall plan to reorganize the technological infrastructure in order to make the offering cost effective for our tenants.”

Unlike any other property in the City of Chicago, the Chicago Board of Trade Building owns and operates its own meet-me-room and fiber backbone riser system and subsequently passes that benefit onto its tenants. Tenants who take advantage of the state-of-the-art convenience can connect directly with dozens of resident telecom companies, the Chicago Mercantile Exchange’s trading related infrastructure and Data Stream’s on-site data center.

Susan Hill, senior managing partner of HFF’s Houston office, arranged an $18 million 10-year fixed-rate mortgage loan with Cantor Commercial Real Estate of Houston, a unit of Cantor, Fitzgerald & Co., New York City.