Atomic Data, a private cloud and colocation provider, has been in rapid growth mode for the past several years and Colliers International- Minneapolis-St. Paul tenant rep broker and data center specialist Dan Peterson has been there to help this thriving firm optimize their space needs every step of the way.
In 2013, Atomic Data had hit a growth threshold with their mission critical facilities and needed more control and space to house their data storage. Among Atomic Data’s 9 global data centers, none provided the level of landlord/tenant interaction or capacity to allow them to adequately address their business growth. So, Dan went to work for Atomic and surveyed the existing, regional data center market, interviewed wholesale operators looking to provide new space and assessed the building infrastructure at one of Atomic’s smaller subleased facilities, located at 250 Marquette in the Minneapolis CBD.
After Dan conducted an in-depth analysis of available options, it was concluded that a larger, direct lease with 250 Marquette’s ownership would give Atomic the control, economics and projected capacity it needed. Dan then conducted a complex lease negotiation to allow Atomic to maintain continual operation at 250 Marquette while progressively removing the existing master tenant, which allowed Atomic to have the proper controls in place upon commencement of a new, long-term lease for the entire 18,000-square-foot data hall.
5 years later, Atomic Data once again called upon the services of Dan Peterson to help them locate a new space, this time not for their data, but to relocate 80 employees out of a space in the North Loop of Minneapolis that they were quickly outgrowing which they had occupied for nearly 11 years. After developing a right-sized space growth strategy and gaining an understanding what an ideal workplace looked like to the employees and leadership at Atomic, Dan conducted an extensive and exhaustive search for their next phase of office space.
Simultaneous to Dan’s search, 250 Marquette was acquired by a new owner looking to invest in the building for tenant attraction and retention. Knowing Atomic’s image as growing tech firm with technical operations onsite was an attractive part of the 250 Marquette story, the new landlord recognized the potential of a more symbiotic relationship and benefit to Atomic expanding at the building.
To make a lease transaction at 250 Marquette work, two existing leases with different rent schedules in addition to two new spaces at the building needed to be wrapped into one coterminous lease involving four floors, dedicated building infrastructure and tenant specific security.
Ultimately, Dan was able to negotiate a lease where Atomic’s 80 employees from the North Loop location could join 85 others who already worked in 250 Marquette, putting all Minnesota-based employees in one building. Dan helped Atomic sign for 30,000 square feet on the 11th floor, which was in addition to the 28,000 they were already leasing which left Atomic with enough space to eventually accommodate up to 330 employees.
The lease represents a strategic move for Atomic Data, both from a growth and a client facing perspective. The move also represents a new era of professionalism and client service, as the new location will offer many onsite perks, including better parking options and a more elevated address.
Colliers International | Minneapolis - St. Paul
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