DEAL: 148,191 SQUARE FOOT DATA CENTER LEASE ON BEHALF OF CERVALIS, LLC
CORFAC International today announced that Howard Greenberg, president of Howard Properties, Ltd./CORFAC International of White Plains, NY was recognized last week for the largest network transaction among CORFAC professionals in 2009 in which two or more brokerage professionals from different firms represented a company in a completed sale or lease negotiation. The transaction was a 148,191 square-foot data center lease on behalf of Cervalis, LLC in northern New Jersey. Mr. Greenberg accepted the award at CORFAC’s annual winter conference in Phoenix, AZ.
The lease was also the biggest transaction by dollar volume among CORFAC firms operating in North America. U.S.-based CORFAC has 50 firms in the U.S., Canada and Mexico in 64 locations. In association with King Sturge, BDI, Rios Commercial and Latin American Corporate Property Services, CORFAC covers 150 markets worldwide with over 3,000 real estate professionals.
Howard E. Greenberg and Craig Zurick, senior vice president, The Garibaldi Group/CORFAC International of Chatham, NJ, jointly represented Cervalis, LLC in the 2009 lease transaction for a newly constructed data center in northern New Jersey.
“We are naturally thrilled with this national award and to have been recognized in front of so many talented peers at CORFAC’s winter conference,” said Mr. Greenberg.
He added that he was equally pleased to have represented Cervalis in this prestigious assignment and that it was the ninth real estate transaction in which Howard Properties has represented Cervalis since its formation ten years ago.
Cervalis, a premier provider of IT infrastructure solutions, signed a long-term lease for an entire building which was under construction by Russo Development of Hackensack, NJ. The center will house 50,000 square feet of raised floor data center space, as well as 25,000 square feet of disaster recovery space and administrative offices.
The transaction was groundbreaking in that it was Cervalis’ first facility in New Jersey, giving the company a full-service presence in New York, New Jersey and Connecticut. Cervalis now occupies more than 280,000 square feet of space for its data centers and disaster recovery centers in the tri-state area.
“In one of the toughest real estate climates in recent history, this transaction was definitely a highlight within the industry and certainly for CORFAC International,” said Owen Rouse Jr., CORFAC International president. Mr. Rouse is also a senior vice president and partner with Manekin LLC/CORFAC International, based in Columbia Md.
“The Cervalis deal also demonstrates the fact that the CORFAC network system works and has been responsible for the completion of major worldwide real estate transactions.”
Howard Properties, Ltd., which is headquartered in White Plains, NY, specializes in tenant representation and real estate consulting. Founded by veteran commercial broker Howard Greenberg in 1998, Howard Properties has completed space acquisitions, dispositions, lease renegotiations and consulting assignments in 20 states. The firm is an affiliate member of CORFAC International, an association of independent real estate brokerage firms represented in more than 150 markets in The Americas and Internationally.