Cervalis gets $75M loan for Norwalk data center
Cervalis LLC got a $75 million loan package from a lending syndicate to outfit the Shelton information-technology vendor’s planned 170,000-square-foot backup data storage and recovery center to be built in Norwalk.
Cervalis announced last Friday a long-term lease on the office-style structure that landlord Fortis Property Group LLC will erect starting later this year at 10 Norden Place, in the shadow of NorthropGrumman’s production facility.
Fortis will build the office shell, while Cervalis will outfit the entire interior with computers, work stations and power generators. Matassa Construction of Long Island will do the interior buildout. The facility is set to open in the third quarter of 2013, a Cervalis spokesman said.
Cervalis is responding to growing demand from financial institutions and healthcare providers for safe, reliable backup for their transaction records and patient files.
About 200 workers will be involved in construction. Permanent staffing for the center will comprise about two dozen IT specialists, not counting clients who have their own IT staffs housed at the site, spokesman Zach Margolis said.
CapitalSource Inc., of Chevy Chase, Md., is lead lender in the finance syndicate. Terms weren’t disclosed.
Cervalis competes in a data-recovery market also served by IBM Corp., of Armonk, N.Y., and Equinix, of Foster City, Calif.
Hartford Business – August 14, 2012