CHICAGO, IL – Data Stream LLC, a technology services company focused on pioneering the next great era of technology driven business, has signed a 7,882-square-foot lease at the Chicago Board of Trade Building. The company plans to build and maintain one of the highest connected, conveniently located and service oriented data centers in the industry.
“It’s an honor to provide the needed high tech data center facilities for the Chicago Board of Trade Building and its esteemed tenants,” said Data Stream President and CEO Ronald Bailey. “To be a moving part of the technological growth at the epicenter of the financial district and of such a historical landmark in the great city of Chicago is exciting for the Data Stream team.”
Houston-based Data Stream officially entered the Chicago market in August 2013 when it signed a 1,459-square-foot lease at the Chicago Board of Trade Building to house its regional sales team. Citing the Building’s robust technology infrastructure, along with ownership’s desire to attract technology-based tenants, Data Stream felt the timing was right to increase its presence in Chicago.
“We felt we could not only serve the CBOT Building’s tenant base very well, but also the Chicago business community,” said Data Stream Regional Sales Manager Schreiber.
GlenStar Properties, LLC and partner USAA Real Estate Companypurchased The Chicago Board of Trade Building in April 2012. The acquisition marked the first time in the property’s 83-year history it was not owned by the exchange. Since then, the new ownership team has embarked on a significant capital campaign aimed at breathing new life into the landmarked property and attracting a more diverse tenant base.
“One of the primary reasons we purchased the complex was because of its unrivaled power, cooling and connectivity plant,” said GlenStar Managing Director Christian Domin. “Data Stream’s lease and operation is a keystone of our overall plan to reorganize the technological infrastructure in order to make the offering cost effective for our tenants.”
Unlike any other property in the City of Chicago, the Chicago Board of Trade Building owns and operates its own meet-me-room and fiber backbone riser system and subsequently passes that benefit onto its tenants. Tenants who take advantage of the state-of-the-art convenience can connect directly with dozens of resident telecom companies, the Chicago Mercantile Exchange’s (CME) trading related infrastructure and Data Stream’s on-site data center.
“We have created an in-building marketplace that offers tenants the value-add proposition of highly competitive telecom pricing, scalability and redundancy paired with a fully renovated and amenity rich office environment,” added Domin.
About GlenStar Properties LLC
Founded in 2003 by three of Chicago’s leading real estate executives, GlenStar Properties LLC is a Chicago-based commercial real estate investment and development firm engaged in new development and property investment, leasing and management services. Today, with more than 5.1 millions square feet of notable properties in its portfolio, the company is recognized as one of the top providers of development and related commercial real estate services in the Chicago area. For more information go to www.glenstarproperties.com.
About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under management, provides co-investment, acquisition, build-to-suit and development services for corporate and institutional investors. The USAA portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate Company is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.