Friday, June 22, 2012

Old Federal Reserve Building Has New Owner



By STEVE BROWN Dallas Morning News
Downtown Dallas' historic Federal Reserve Bank building has changed hands.
The 91-year-old Akard Street landmark was converted to a data center building in 1999 and has recently been for sale.
San Francisco-based Digital Realty Trust Inc. said Thursday that it purchased the 269,6000-square-foot building to add to its North Texas holdings.
"This highly strategic building features large floor-plates, high ceilings, and robust floor loading making it an attractive alternative for customers in the Dallas area looking for high quality data center space in the downtown Dallas market," Michael Foust, CEO of Digital Realty, said in a statement.
The property is 85 percent leased to eight tenants, according to Digital Realty.
The Dallas office of Holliday Fenoglio Fowler LP arranged the sale. Terms of the transaction were not disclosed.
Digital Realty has another downtown facility at 2323 Bryan Street.
Earlier this month, the high-tech real estate firm announced it would build a new data center in Richardson.
Digital Realty Trust is one of the largest developers of datacenter projects, with 103 properties in 31 markets worldwide...