The Globe and Mail: BentallGreenOak betting on technology data centres with recent property purchases
Canadian property manager BentallGreenOak is buying up data centres, betting on continued growth in the technology sector, which relies on the buildings to power their businesses.
This year, BGO has acquired two data centres, both occupied by IBM IBM-N +0.27% increase. In May, it purchased a 112,000-square-foot facility in Markham, Ont., a suburb north of Toronto. It acquired a centre in Montreal in August from IBM, which BGO leased back to the company. A BGO spokesman said the acquisitions were in the “mid-eight-figure” range, and IBM has assumed “medium-term” leases on the buildings.
