Tier Four Signs Agreement for Switch and Data Facility

Tier Four today signed a definitive agreement giving Tier Four control of the former Switch and Data data center located in downtown Salt Lake City.

The Switch and Data facility has been dark for several years, following Switch and Data's decision to exit the Salt Lake City market. However, Switch and Data did leave all colocation infrastructure in place at the time of their exit. The building owner preserved the facility intact while it sought a new tenant.

Property Reserve, Inc. (PRI) is the owner of the building and Zions Securities Corporation (ZSC) is the owner's agent and landlord. The owner has been seeking a suitable tenant to reoccupy the facility since the time of Switch and Data's exit from the market. Tier Four and PRI have been in negotiations regarding the site for several months.

The lease which was signed today provides Tier Four with use of the site for up to 20 years. All colocation infrastructure which is part of the site is included in the lease.

Significant work remains to be completed at the site before it is suitable for use as a production colocation facility. However, Tier Four has obtained financing from Zions Bank and Capital One to complete the necessary improvements and upgrades. Construction will begin immediately and Tier Four hopes to be able to open the center for production within sixty days.

First Published: 2006-02-27
Last Modified: 2006-02-27

Synopsis: Tier Four signs agreement to lease the former Switch and Data telco colocation facility located in downtown Salt Lake City, Utah.