Cologix and CIM Group have formed a joint venture to build a new data center in Toronto, Canada.
The two companies announced today the formation of a joint venture to construct and operate TOR4; a 50,000 sq ft (4,650 sqm), 15MW purpose-built data center in Markham, Ontario that will be part of Cologix's hyperscale Scalelogix portfolio
Located adjacent to CIM Group’s 105 Clegg data center, the new facility will offer dark fiber connectivity to Cologix’s TOR1 at the 151 Front Street West carrier hotel. The companies said the joint venture has pre-leased a 'significant anchor tenant' for the facility.
“Cologix is an innovative and respected owner and operator of data centers and an ideal fit as a partner for CIM Group as we continue to expand our digital infrastructure portfolio. CIM has identified data centers as a sector with potential for attractive growth and risk-adjusted returns, and is targeting facilities, such as the TOR4 Scalelogix facility, that provide robust connectivity and a well-designed facility in a highly desired location,” said Avi Shemesh, co-founder and principal, CIM Group.
Cologix first announced plans for a TOR4 facility in June 2021 alongside the acquisition of a facility in Vancouver from Zayo; the time the company said the new data center would offer 10MW.
Earlier this month Cologix announced it would operate its hyperscale facilities under the Scalelogix moniker. The company said TOR4 would be the seventh Scalelogix facility and its fifth data center in Toronto. Timelines for construction weren't shared in either announcement.
“By executing our Scalelogix pre-leasing strategy of offering strategically located facilities along with access to Cologix’s network-dense ecosystem, we quickly secured a large, anchor tenant for TOR4,” said president and chief revenue officer of Cologix Laura Ortman.
Cologix said it currently operates three multi-tenant hyperscale data centers in Columbus, Ohio, and Montreal, Canada, comprising 440,000 sq ft (40,900 sqm) and 70MW of power. It has three more Scalelogix facilities in the works in Ashburn, Virginia; Columbus, Ohio; and Silicon Valley, California, comprising 1 million sq ft (92,900 sqm) and 200MW of capacity.
Real estate firm CIM Group recently sold its share in a portfolio of four US data centers it owned alongside fifteenfortyseven Critical Systems Realty (1547) to investment firm Harrison Street Real Estate Capital, LLC and 1547. CIM is separately funding Novva data centers, a firm developing a 1.5 million sq ft data center in West Jordan, Utah, and recently acquired a data center in Colorado Springs, Colorado.
