Bloomberg L.P. has signed a lease for a new 131,805 s/f build-to-suit data center facility in Orangetown, NY. The single-tenant turnkey data center is being developed by a joint venture partnership of Russo Development and Sentinel Data Centers, which will retain ownership of the property.
“We are very pleased to welcome Bloomberg to Orangetown,” said Andy Stewart, Supervisor for the Town of Orangetown. “Bloomberg’s decision to locate here shows that Orangetown is back on track and able to work effectively with investors to meet our community’s needs for appropriate commercial development, jobs and a solid tax base.”
Yesterday the Rockland County Industrial Development Agency endorsed Orangetown’s resolution to provide the project with a partial tax abatement package. Bloomberg L.P.’s lease agreement is conditional upon final authorization by the County Executive.
“Bloomberg conducted a long and extensive search to find a location that meets all requirements for our latest data center, and this site in Orangetown checks all the boxes for us,” said Vladimir Kliatchko, Global Head of Research and Development at Bloomberg. “We have partnered with an experienced data center developer in Russo/Sentinel and we are confident they will deliver a first-class facility.”
Harriet Cornell, Chairwoman of the Rockland County Legislature and board member of the Rockland Economic Development Corporation, applauded the announcement. “This is wonderful news for our County and exactly the kind of global firm which is perfect for Orangetown. Bloomberg L.P. looked at over 100 sites in New York and New Jersey before choosing this one. That tells you loud and clear that Orangetown is a prime location for data center development. Congratulations, Orangetown.”
The facility, which will consist of a single-story raised floor environment and infrastructure to provide in excess of 7MW of critical capacity, is planned to come online in the middle of 2014. The property was purchased by Russo Development in 2009 and was pad-ready for vertical construction prior to lease signing.
Having previously partnered on a multi-tenant data center in Somerset, NJ, this project is the second joint venture between Russo Development and Sentinel Data Centers.
“We are pleased to have the opportunity to provide an optimal environment for Bloomberg’s innovative technologies,” said Edward Russo, President and COO of Russo Development. “This site provides ideal access to Manhattan, robust power sources, multiple telecommunication carriers, and opportunities for state and local tax incentives. Additionally the town of Orangetown, led by Supervisor Andy Stewart, has been a great partner throughout this process. The Town stands behind its commitment to economic growth.”
“We are thrilled to be again working with our friends at Russo Development on this fantastic project” adds Josh Rabina, Co-President of Sentinel Data Centers. “The Bloomberg critical facilities team is truly top notch, and we look forward to delivering them a world class turn-key facility in Orangetown.”
Michael J. Pembroke, Senior Vice President of Leasing and Marketing for Russo Development, represented the ownership in the lease.