DataPipe Subleases 21,000 SF

JERSEY CITY-DataPipe, a global provider of managed hosting services, has subleased 21,000 sf from Aegis Insurance Services at 10 Exchange Pl. here. For DataPipe, the deal has meant a headquarters move and expansion from nearby Hoboken to the 30-story, 700,000-sf building. Constructed in 1988, 10 Exchange Pl. is owned by Invesco Real Estate Germany.

DataPipe, which has six data centers and eight office locations around the world, was represented in the transaction by Leonard Miller and Marc Graham of Cushman & Wakefield; Philip Lipper of Studley brokered the transaction on behalf of Aegis. Terms were not released.

Direct availabilities in the class A building are currently listed with asking prices in the $38 to 40 per sf range. “Moving our headquarters to a waterfront building like 10 Exchange Pl. puts us in the company of some of the largest corporations on the globe,” says Robb Allen, DataPipe’s CEO.

According to C&W’s Miller, the multi-year deal “was completed in a restricted time frame. From the initial tour to move-in, this deal was consummated in less than two months. It was the classic ‘right time, right place’ situation,” he says. “DataPipe was prepared to move quickly, and this opportunity provided great economics. The space came complete with furniture and gym space.”

Miller adds that “Aegis was focused on executing a deal in order to minimize the downtime of its surplus space. It was a terrific deal all around.”

For Aegis, the space became surplus in late 2005 when the company, which provides insurance services to the utility industry, made its own headquarters expansion/relocation from here to East Rutherford. The company eventually completed the move, which involved 200 employees and a 20,000-sf expansion to a total of 93,000 sf at One Meadowlands Plaza, a little more than a year ago.