Harrison Street and 1547 Data Center Real Estate Fund II, an affiliate of fifteenfortyseven Critical Systems Realty, have acquired a vital carrier hotel, colocation data center and office building located in downtown Portland, Ore.
At $326 million, Pittock Block was the highest priced single-asset transaction in Oregon since 2015, according to sources with knowledge of the deal.
The 302,200-square-foot historic Pittock Block building is one of only two primary Internet Exchanges in the entire Northwest, serving 179 service providers. The building is located 18 miles from Hillsboro, Ore., one of the fastest growing data center submarkets in the world, and has direct access to seven subsea telecommunications cables. In addition, it offers low latency connectivity to Asia Pacific.
“We believe there is significant opportunity at Pittock as data center requirements continue to grow exponentially in the region,” said Todd Raymond, CEO of 1547. “Our plan is to le