PhoenixNAP Lines Up Expansion Funding

Phoenix NAP has lined up a credit line from Bank of America that will fund fuel the next phase of construction at the company's Phoenix data center, the company said this week. Phoenix NAP will use the funding to add an additional eight megawatts of capacity power, bringing the facility's total generation capacity up to 12 megawatts. The company will now complete the build-out of the data center's first floor, and says it is  is positioned to continue its expansion onto the second floor as needed.

"As we move to keep up with demand, the funding is a big impetus for our continued growth," said Ian McClarty, president of Phoenix NAP. "Furthermore, as the IT climate changes and evolves, we are going to be in a position to help small , medium, and enterprise-sized businesses meet their needs, be it through a straight colocation space and power scenario, or a different type of cloud-based solution which we will be releasing in the next few months."

Phoenix NAP worked closely with financial advisors from Franklin Court Partners to secure the funding. After announcing its opening last June, Phoenix NAP has built a roster of tenants including the Make-A-Wish Foundation, Unicorn Media, Net Fusion Services, Slickdeals, Village Voice Media, among others. The company's 160,000 square foot data center is designed for two 45,000 square foot data halls for a total of 90,000 square feet of raised-floor space.