Inside an Equinix data center

Big data center operators are now seeking to restructure themselves as real estate investment trusts, allowing them to avoid corporate taxes and the stricter regulations levied against traditional utilities, the New York Times reported. But with regulators granting these centers the financial benefits of REITs without the restrictions of power companies, tax watchdogs are crying foul. [more]

Dave Sabey and the former Verizon building

The former Verizon building at 375 Pearl Street in Lower Manhattan makes its debut today as the country’s largest high-rise data center, Crain’s reported. Seattle-based commercial real estate and investment company Sabey Corp. bought the property out of foreclosure, spending $120 million in 2011 for a controlling interest in the 1.2 million-square-foot tower. [more]

From left: a screenshot from doomsday thriller “The Day After Tomorrow” and Blue Hill Plaza, a data center space in Rockland County

Before Hurricane Sandy, signing an office lease meant considering cost, size, condition, landlord, maybe the neighborhood. Today, storm-wary tenants are asking another question, a powerful one, if you will: What electrical grid is the building on? [more]