Acquired from a subsidiary of Airbus, PRP executed a multi-phase strategy: fully renovating the property; replacing the skin, roof and base building systems; selling off excess land to create interim returns for investors; and entering into a ten-year lease with Amazon in advance of this facility becoming the headquarters for their cloud computing operations. Possessing dual power, dual fiber and fully conditioned, this asset sold to CalSTERS for the lowest cap rate paid for a data center in the U.S. Amazon has invested more than $50MM into its build-out to date.