Articles

telx News

Diversified Capital Leases 25,000 Square Feet At 8435 Stemmons In Dallas

DALLAS, Feb. 11 PRNewswire — Diversified Capital, a commercial real estate investment and management company headquartered in Lakewood, New Jersey, today announced that Telx, a leading provider of network rich colocation and interconnection services, has leased approximately 25,000 square feet of space at 8435 Stemmons Freeway in Dallas, Texas. The space, located on all of the building's second floor and part of the first, will be used to house network connectivity services for Telx's global client base.

Ben Sumner of Stream Realty acted as the broker for this transaction and will oversee leasing activity for the building. The First American Center at 8435 Stemmons has a total of 11 stories and 230,000 square feet. The building contains a substantial amount of recently-vacated space available for lease and is ideal for back office operations that may utilize Telx's colocation services.

"Currently Dallas is one of the highest job growth markets in the country and a center of technological activity," said Bruce Stern, Vice President of Business Development at Diversified Capital. "When Diversified acquired the building five years ago, we recognized the tremendous growth potential of the area. We look forward to the opportunities created by this partnership with Telx and future tenants, including the upcoming development of full-service executive suites for short-term lease, on the 4th floor of our building."

Telx will use the space to house more than 800 cabinets for network providers and enterprises to exchange network and content. It will be wired with redundant AC and DC power options and generator back-up solutions. Telx also manages the Meet Me Room, a smaller space also in Dallas at 2323 Bryan, which it will interconnect with its newly acquired facilities at Stemmons via a metro fiber ring.

"The technological capabilities, together with the multiple networks already available at 8435 Stemmons make the building an attractive location to house our Xchange centers and offer an even greater range of communications and technology capabilities to our clients," said Eric Shepcaro, Chairman and CEO of Telx. "The Dallas market has always been a center for technology and is starting to see growth in the financial services sector. Dallas is an important part of our national facility footprint; Dallas is situated in an important geographical location where nationwide networks interconnect which makes the city an excellent place to manage global network services such as call centers or back-up and storage requirements."

The ribbon cutting ceremony lead by the Dallas Chamber of Commerce will take place on February 12th at 10 a.m.

About Telx

Telx is a world-class leader in providing interconnectivity solutions through their network rich colocation facilities. With over a dozen facilities in North America, Telx offers cost effective networking solutions for customers to seamlessly access diverse global networks and exchange information in a secure and reliable environment. Over 500 leading telecommunications carriers, ISP's, content providers and enterprises rely on Telx's world-class team to support their mission-critical global infrastructure needs and to create a global connectivity marketplace to dramatically expand their business growth opportunities. Telx is a privately held company headquartered in New York City with facilities in New York, Atlanta, Chicago, Dallas, Los Angeles, San Francisco, Santa Clara, Miami, Phoenix, Charlotte, and Weehawken, NJ. For more information about Telx, visit http://www.telx.com.

About Diversified Capital

Diversified is a highly focused commercial real estate investment and management company with headquarters in Lakewood, New Jersey. Founded in 1999, the company owns and manages properties in New Jersey, Connecticut, Pennsylvania, Virginia and Texas. Diversified specializes in acquiring and turning around troubled properties. The company's property acquisition and management strategy provides the firm with a competitive advantage — velocity. Aggressively pursuing value-added acquisitions, the company is able to identify and quickly capitalize on opportunities in the marketplace. For more information, please visit http://www.diversified-capital.com .

SOURCE Diversified Capital