WESTBURY, NY – October 17, 2017 – 1025 Old Country Road (1025OCR), today announces the closing of a $14 million senior secured credit facility. The 200,000 square-foot building located in Westbury, New York, is the home of 1025Connect, Long Island’s premier network-neutral Meet-Me Room for network interconnection and colocation. The new capital will be focused on major enhancements to the building infrastructure that will support the continued growth of 1025Connect. In addition to office space, 1025OCR offers disaster recovery space, a technical incubator, a CLEC roof access, and colocation/data center services, creating a very high-tech property.
“We are seeing a strong demand for the colocation/data center facility that offers unmatched international carrier connectivity and a unique bypass alternative to New York City,” comments Jeff Wasserman, Chairman of 1025 Old Country Road. “This infusion of new capital will support our ability to build capacity and capabilities to meet burgeoning customer demand. We will continue to invest in the core infrastructure in order to enhance our platform going forward.”
1025Connect, located at 1025 Old Country Road on Long Island, is a colocation/data center facility with nearly a dozen carriers and service providers available in the building, including transatlantic subsea cable provider Aqua Comms DAC, Epsilon, Lightower, Altice, and more. The breadth of service capabilities available at 1025Connect exceed the most discerning needs of companies that rely on communication networks for their businesses. Situated at one of the most eastern points of the United States on the ‘Continental Edge,’ 1025Connect delivers direct access to multiple submarine cable systems connecting North America, Europe and Latin America, as well as the ability to bypass Manhattan fiber routes for greater network redundancy and diversity.
The 1025OCR senior secured debt financing was arranged by Meridian Capital Group, one of the nation’s largest commercial real estate finance and advisory firms. Bank Street Group, a private investment banking firm serving growth companies in the communications, media and technology sector, serves as exclusive financial advisor to 1025OCR in connection with its financial and strategic initiatives.
To learn more about 1025Connect, visit www.1025connect.com.
# # #
About 1025OCR, LLC
1025OCR, LLC owns 1025 Old Country Road in Westbury, New York. The building is a 200,000 square-foot commercial property. This multifaceted property offers commercial office space, a colocation/data center, a business accelerator, roof access for wireless, a CLEC and disaster recovery pods. The property is managed by A. M. Property Holding Corp. For more information, contact RCeant@am-property.net.
About 1025 Connect
1025Connect is Long Island’s premier network-neutral Carrier Hotel located at 1025 Old Country Road in Westbury, New York. This facility is renowned for its ability to connect subsea systems to terrestrial networks with the optional ability to bypass Manhattan for greater network diversity. 1025Connect provides colocation solutions that enable network interconnections through its highly-secure Long Island data center. Network operators of all types within 1025Connect benefit from direct access to Manhattan Bypass fiber routes, multiple transatlantic and Latin American submarine cable systems and multiple enterprise networks — all without monthly recurring cross-connect fees. Visit www.1025connect.com.