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MISSION CRITICAL FACILITIES Looking to value your data center, colocation facility, or carrier hotel? Looking to engage an elite advisory team of mission critical facility specialists whose valuation experience stands unrivalled in global markets? Look no further. Our Mission Critical Facilities Practice Group professionals operate as an elite and collaborative unit. We understand the complexity of these assets and the nuanced interplay of variables required for an effective comparison of space. For example, data center rental rates – which far exceed the rates of most real estate – can vary widely based on: building infrastructure; location; tenant demand; available connectivity within the building; and, most importantly, power availability and cost. Corporations, institutional investors, and lenders alike turn to our professionals as their trusted advisors for critical debt and equity investment decisions regarding their mission critical assets and properties. Whether it is a single asset appraisal, portfolio valuation, or valuation for financial reporting, our team has the track record and specialized expertise to meet your organization’s needs. Cushman & Wakefield 1290 Avenue of the Americas New York, NY 10104-6178 +1 (212) 841 7500 www.cushmanwakefield.com/ValuationAdvisory VALUATION & ADVISORY MISSION CRITICAL FACILITIES Cushman & Wakefield 2012

Data Center Valuations

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Page 1: Data Center Valuations

MISSION CRITICAL FACILITIES

Looking to value your data center, colocation facility, or carrier hotel? Looking to engage an elite advisory team of mission critical facility specialists whose valuation experience stands unrivalled in global markets? Look no further.

Our Mission Critical Facilities Practice Group professionals operate as an elite and collaborative unit. We understand the complexity of these assets and the nuanced interplay of variables required for an effective comparison of space. For example, data center rental rates – which far exceed the rates of most real estate – can vary widely based on: building infrastructure; location; tenant demand; available connectivity within the building; and, most importantly, power availability and cost.

Corporations, institutional investors, and lenders alike turn to our professionals as their trusted advisors for critical debt and equity investment decisions regarding their mission critical assets and properties. Whether it is a single asset appraisal, portfolio valuation, or valuation for financial reporting, our team has the track record and specialized expertise to meet your organization’s needs.

Cushman & Wakefield 1290 Avenue of the AmericasNew York, NY 10104-6178+1 (212) 841 7500www.cushmanwakefield.com/ValuationAdvisory

VALUATION & ADVISORY

MISSION CRITICAL FACILITIES

Cushman & Wakefield2012

Page 2: Data Center Valuations

Avoid the risk.Select a team whose core competency is data centers.

SPECIALIZING IN DATA CENTERS

Can you afford downtime?

Data centers are extremely expensive to construct. In order to operate and maintain these facilities, specialized skills are required to achieve the necessary reliability and uptime for the equipment and network infrastructure.

Unplanned events, such as an outage or systems failure, will disrupt operations, compromise your company’s reputation, and risk the loss of business. In choosing a firm to value a mission critical facility, or advise you in its regard, you need not assume additional risk.

This sensitive work calls for specialization and the Mission Critical Facilities Practice Group is the most experienced in the industry. In the last five years, our team has been engaged in more than 200 appraisal and consulting assignments in markets throughout the United States, Canada, and Europe.

Theses assignments constitute more than 32 million square feet of rentable space and nearly 13 million square feet of technical/raised floor space, and have involved the following property types:

• Carrier-neutral hotels

• Colocation facilities

• Powered shell data centers

• Telecommunications facilities

• Wholesale data centers (fully conditioned)

This body of ongoing experience with mission critical facilities – unrivaled in the industry –affords our team unique insights into the data center market. The data we have assembled, coupled with our extensive research and market knowledge, gives us a real-time advantage in helping our clients to make sound business decisions.

OUR SERVICES INCLUDE

• Appraisal

• Appraisal Review

• Appraisal Management

• Asset Impairment Analysis

• Bankruptcy Support

• Corporate Planning

• Cost Benefit Analysis

• Debt Valuation

• Development Advisory

• Due Diligence

• Expert Testimony

• Expense Analysis

• Fair Value Measurements

• Highest and Best Use Analysis

• Impact Studies

• Litigation Support

• Market Studies

• Mergers and Acquisitions Support

• Operation Reviews

• Portfolio Valuation

• Proforma Reviews

• Property Tax Consulting

• Purchase Price Allocation

• Rent Studies

• Valuation for Financial Reporting

BREADTH OF EXPERIENCE

In total, our professionals have provided real estate solutions to more than 120 companies and entities in the last three years. We specialize in a variety of technical properties and services for clients – both owners and users – from a broad range of industries.

CLIENT INDUSTRIES

• Banks

• Cable companies

• Content providers

• Education institutions

• Financial services providers

• Fortune 500 leaders

• Hosting companies

• IT services firms

• Managed service providers

• Network providers

• Technology companies

• Telecommunications firms

CLIENT ASSETS

• Colocation facilities

• Control centers

• Data centers

• Network operations centers

• Powered shells

• Trading floors

DEPTH OF RESOURCESIn addition to our sector- and asset-specific experience and comprehensive geographic coverage, our group offers clients further advantages and value through its unique depth of resources.

DATABASE OF MISSION CRITICAL PROPERTIES

Our North American database includes existing built-out data centers for sale or lease; colocation facilities; powered shells; and proposed development sites. More intelligence, on more markets, means more informed decision-making during your site-selection process.

IN-HOUSE FACILITIES MANAGEMENT EXPERTISE

Globally, Cushman & Wakefield manages more than 20 million square feet of technology space and nine million square feet of raised-floor data centers. We draw on the practical experience of our in-house management and engineering personnel to deepen our technical knowledge of these facilities. The depth of our transactional due diligence reflects this commitment.

INCENTIVES OPTIMIZATION

Our team partners with Cushman & Wakefield’s in-house incentives specialists to ensure clients make the most of state and local incentive and tax abatement opportunities. Our approach is exhaustive, exploring and negotiating discretionary cash grants; real estate tax abatements; utility costs reductions; employment and investment tax credits; enterprise zone benefits; and more. Your cost mitigation efforts will benefit from our thorough methodology.

BUILD-OUT AND PROJECT MANAGEMENT EXPERTISE

Our project management professionals are experts on mission critical facility construction and build-out scope development; team selection; cost and schedule management; and installation and commissioning. Their advanced understanding of technical and design requirements can be leveraged to great effect during site selection and negotiations.

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2012 MISSION CRITICAL FACILITIES

Page 3: Data Center Valuations

NORTH AMERICA LOCATIONS

• Atlanta

• Boston

• Chicago / Rosemont

• Dallas

• Denver

• Houston

• Los Angeles

• Minneapolis

• Montreal

• Northern New Jersey

• New York Metro

• Philadelphia

• Phoenix

• Salt Lake City

• San Francisco / Silicon Valley

• Seattle

• Toronto

• Washington, D.C. / Northern Virginia

GLOBAL LOCATIONS

• Beijing

• Hong Kong

• London

• Mumbai

• Sao Paulo

• Singapore

• Tokyo

GEOGRAPHIC COVERAGE

Comprehensive coverage of primary and secondary North American markets and major markets in South America, Europe, and Asia.

The Mission Critical Facilities Practice Group is geographically diverse, covering relevant markets throughout North America and partnering with technical property specialists in Europe, Asia, and South America. The practice is also multi-disciplinary, drawing from all real estate disciplines and specializations.

The common ground we share is our uncommon experience and expertise with data centers and technical properties. Our specialists speak the unique language of data center owners and users. We understand the operational, mechanical, financial, and regulatory considerations that impact these assets. And we attend the events, subscribe to the publications, and monitor the trends that shape the data management and computing power landscapes.

Equally important, our work model is collaborative and networked, offering value through economies of scale. In effect, our clients are able to leverage the best practices, technical expertise, and market intelligence of our entire global platform.

Your team can rest assured that the solutions we put forward to secure and manage your mission critical facilities, are the most trusted and advanced solutions available anywhere.

Miles Loo, Jr.Executive DirectorLos Angeles, CA+1 (213) 955 [email protected]

2012 MISSION CRITICAL FACILITIES

AS OF OCTOBER 2012

C&W Offices

C&W Offices with V&A professionals

253Offices in 60 Countries

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Mumbai - SuburbsNew Delhi*Pune*IndonesiaJakartaJapanTokyo*MalaysiaKuala LumpurMongoliaUlaanbaatarNew ZealandAuckland WellingtonPakistanKarachiPhilippinesManilaSingapore*South KoreaBusanSeoul*TaiwanTaipeiThailandBangkokVietnamHanoi*Ho Chi Minh City*

Prince Edward IslandCharlottetownQuebec Montreal - Central*Montreal - Suburban

LATIN AMERICAArgentinaBuenos Aires*Brazil CuritibaManausPorto AlegreRecifeRio de Janeiro*São Paulo* São Paulo - BarueriChileSantiago (2)Colombia Bogota (2)Costa Rica San JoseMexico Ciudad JuarezGuadalajara*Mexico City*Monterrey*Peru Lima (2)

IsraelTel AvivSouth AfricaJohannesburgUnited Arab EmiratesDubai

ASIA PACIFICAustralia BrisbaneMelbourne Sydney*China Beijing*ChengduGuangzhou Hong Kong*Shanghai - Puxi*Shanghai - PudongShenzhenFijiIndia AhmedabadBangalore* Chennai*Gurgaon*Hyderabad*KolkataMumbai - City*

VenezuelaCaracas

EMEAEUROPEAustriaViennaBelgiumBrussels*BulgariaSofiaChannel IslandsJerseyCzech RepublicPrague*DenmarkCopenhagenEngland BirminghamLondon - City London - West End*ManchesterThames ValleyFinlandHelsinkiFranceParis*GermanyBerlin*Dusseldorf

Frankfurt*HamburgMunichGreeceAthensHungaryBudapest*Ireland Cork DublinItaly Milan* Rome*KazakhstanAlmatyLuxembourgLuxembourgMacedoniaSkopjeThe NetherlandsAmsterdam*RotterdamNorthern IrelandBelfastNorwayDrammenOsloStavanger

PolandWarsaw*PortugalLisbon*RomaniaBucharest*TimisoaraRussia Moscow*Scotland Edinburgh Glasgow*Slovakia BratislavaSpain Barcelona* Madrid*Sweden Stockholm*SwitzerlandBasel Geneva ZurichTurkeyIstanbul*

MIDDLE EAST/AFRICABahrainManama

AMERICASUNITED STATESAlabamaBirmingham*ArizonaPhoenix*Tempe*TucsonCaliforniaBakersfieldCarlsbadDiamond BarInland Empire*L.A. - Downtown*L.A. - South (Torrance)L.A. - South (Long Beach)L.A. - WestMarin/SonomaOaklandOrange County*Sacramento* San Diego - DowntownSan Diego - La Jolla UTC*San Francisco*Silicon Valley*Walnut CreekColoradoColorado SpringsDenver*ConnecticutHartfordStamford*

DelawareWilmingtonDistrict of ColumbiaWashington, D.C.*Florida Ft. Lauderdale*Ft. MyersJacksonville*Miami Orlando*Palm Beach Gardens Tampa* GeorgiaAtlanta*SavannahHawaii Honolulu*Idaho BoiseIllinois Chicago* Chicago - Suburban*IndianaBloomingtonIndianapolis*KansasOverland ParkKentuckyLouisville*MainePortland*

MarylandBaltimore*BethesdaMassachusettsBoston*MichiganDetroit*Grand RapidsHollandKalamazooLansing*MuskegonMinnesotaMinneapolis*Minneapolis - SuburbanMissouriKansas City*St. Louis*St. PetersNevadaLas Vegas*RenoNew HampshireManchesterNew JerseyEast Rutherford*EdisonMorristownNew York AlbanyBinghamton

Buffalo*CorningHudson ValleyIslandia*IthacaMelvilleNew York City - Downtown New York City - WHQ*RochesterSyracuse (2)*UticaWatertownWestchester CountyNorth CarolinaCharlotte (2)*Raleigh (2)*OhioCincinnatiClevelandColumbus (2)*ToledoOklahomaOklahoma CityTulsaOregonPortland*PennsylvaniaPhiladelphia*Philadelphia - SuburbanPittsburgh*Puerto RicoSan Juan

Rhode IslandProvidenceSouth Carolina Charleston GreenvilleTennessee ChattanoogaKnoxvilleMemphisNashville (2)*Texas Austin*Dallas*Houston*San AntonioUtah Ogden Park CityProvoSalt Lake City*St. GeorgeVirginiaFredericksburgLynchburgNewport NewsNorfolk/Virginia BeachRichmond*RoanokeTysons CornerWilliamsburg*

WashingtonBellevue Seattle*WisconsinMilwaukee

CANADAAlberta Calgary* Edmonton*British ColumbiaVancouver*VictoriaManitobaWinnipeg*New BrunswickFrederictonMonctonSaint John NewfoundlandSt. John'sNova ScotiaHalifax OntarioKitchener-WaterlooLondon*NewmarketOttawa*Toronto - Central*Toronto - North/EastToronto - West

* C&W Offices with V&A professionals