Stuart Shiff’s DivcoWest has entered into a contract to acquire 325 Hudson Street in Hudson Square from Jamestown Properties + Netrality Properties for more than $150 million, according to The Real Deal. The 10-story office building spans 241,000 SF, and offers direct access to transatlantic cables.
- Conservative office play: RCN occupies a series of meet-me rooms in the building, and has 17 years remaining on its lease. This allows telecommunications companies to physically connect and exchange data without incurring local loop fees.
- What this means: It’s like an airport where service providers are the airlines and frequent fliers are the Hulus and HBOs of the internet that are hoping to send their content from point A to point B. Netrality is a partnership between Amerimar Enterprises, Inc. and Hunter Newby.
- Tenants in the “carrier hotel” include: Sony Embassy Row, Starry, as well as telecommunications and colocation companies such as Altice and Verizon.