FiberNet Expands at 60 Hudson

FiberNet Telecom Group (FTGX) will expand its colocation operations at 60 Hudson Street, one of Manhattan's most wired carrier hotels. Citing growing demand for its colo and transport services, FiberNet says it will develop an 11,000 square foot expansion data center that will increase the size of its presence at 60 Hudson Street by 36% and its total colocation and data center footprint by approximately 12%.

The new facility will be fully integrated with FiberNet's other colocation facilities and data centers, including the 60 Hudson Street Meet-Me-Room, via its metropolitan optical networks. "We are very excited to launch this significant expansion of our colocation business," said Jon DeLuca, President and CEO of FiberNet. "The demand for high quality colocation remains robust. Leveraging the success that we have had with the 60 Hudson Street Meet-Me-Room over the last five years, this new facility will greatly benefit our customers and our company."

The lease for the new facility on the 12th floor of 60 Hudson extends through 2022. FiberNet also has colo space on the 19th floor, and manages the Meet-Me-Room on the ground floor. FiberNet said it will fund the buildout with existing cash. FiberNet Telecom operates interconnection facilities and a metro-area connectivity network in in the gateway markets of New York/New Jersey and Los Angeles.
It also operates the 60 Hudson Street Meet-Me-Room, launched in partnership with the landlord. The Meet-Me-Room facility is widely used by customers as AT&T, Bell Canada, British Telecom, China Netcom, China Telecom, Level 3 and Verizon.

60 Hudson Street, previously owned by Western Union, has a lengthy history as a cornerstone in the development of America's communications infrastructure. The 943,000 square foot facility was built between 1928-30 at a cost of nearly $45 million - which, adjusted for inflation, is the equivalent of $428 million today. It initially housed 70 million feet of wire and 30 miles of conduit. It is one of the primary carrier htoels in New York, along with 111 Eighth Avenue.