In 1999, YWA purchased a 616,000 square feet existing Nabisco manufacturing building from Angelo Gordon & Co. with the intent of developing a data center/mission critical facility. Eventually, Level (3) purchased the building from YWA, and converted the structure into a state-of-the-art data center. In 2003, with the decline of the technology sector, Level (3) had no other option but to sell the building at a fraction of its cost and lease back three floors of the building. It was critical to Level (3) that the new landlord understood their complex infrastructure needs and cooperated with them as tenants in running an efficient and fail-safe data center for data banking and internet protocol systems.
Although the telecom business was in decline at the time, YWA bought back the property in 2003. YWA believed that its physical attributes including redundant power, superior fiber connectivity, and state-of-the-art telecom infrastructure were underutilized. YWA’s strategy was based on the premise that not only data center users and operators would need these features but other businesses and organizations (such as the U.S. Government, IT companies and data intensive users) requiring business continuity would also find this infrastructure valuable and not readily available in any typical office building.
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