Wednesday, February 12, 2020

Digital Realty buys a 49% stake in Seattle's Westin Building Exchange

Digital Realty will acquire a 49% ownership interest in the Westin Building Exchange in Seattle, Washington, from Clise Properties. Financial terms were not disclosed.

The Westin Building Exchange, which is said to be the sixth most densely interconnected facility in North America, serves as a primary interconnection hub for the Pacific Northwest. The building houses over 150 carriers and more than 10,000 cross-connects.  The 34-story tower is adjacent to Amazon's 4.1 million square foot urban campus and overlooks Elliott Bay as well as the downtown Seattle skyline.

"This investment represents a significant step towards executing on the PlatformDIGITAL™ roadmap we introduced last November, adding coverage, capacity and connectivity capabilities to enable our customers' digital transformation strategies," said Digital Realty Chief Executive Officer A. William Stein.  "This linchpin asset gives us the opportunity to fully leverage our robust business infrastructure and open up a full suite of enterprise IT solutions to our global customer base.  This transaction further strengthens our interconnection platform and demonstrates our commitment to accelerating digital business on PlatformDIGITAL."