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Mar. 15, 2013

$16 M Carrier Hotel Announced in Wilmington; Investment Group Buys $36 M Industrial Portfolio along I-95 Corridor

By Veronica Grecu, Associate Editor

Private cloud and infrastructure service solution provider IPR International of Wayne, PA, has announced plans to transform its data center in Wilmington, DE, into a $16 million carrier hotel. This huge connectivity hub will be able to bring together a large number of networks and providers and will be dedicated to offering a highly efficient and competitive bandwidth interconnection point to Wilmington’s business district.

McConnell Johnson Real Estate is the owner of the 16-story building located at 1201 N. Market Street, along with dark fiber providers Sunesys, LLC of Warrington and Fibertech Networks based in Rochester, N.Y.

According to an interview with the Philadelphia Business Journal, the company’s financial effort will be backed by a grant of $3.8 million for Delaware’s New Jobs Infrastructure Fund.

With the new Wilmington Carrier Hotel Project the investors hope to create innovative business opportunities that can trigger economic growth in the area and throughout the state of Delaware.

In further regional news, TA Real Estate of Boston sold an industrial portfolio along the I-95 Corridor for $36 million to Hayden Real Estate Investment and Miller Investment Management. As reported by the same source, the 1 million square foot portfolio consists of four office buildings and an 18-acre parcel of land already zoned for industrial development in the I-95 Campus Industrial Park in Aston.