The incident occurred at approximately 2pm last Friday at the facility at 530 Collins Street, which is located near the Docklands precinct.
The building is managed by international property giant Jones Lang LaSalle and also counts the Australian Stock Exchange (ASX) amongst its tenants.
An early statement obtained by iTnews indicated that water had "damaged the electrical supplies to carrier equipment".
iTnews now understands that building contractors may have damaged a fire hydrant on the first floor.
Water then flooded both the first and ground floors of the building and also partially seeped through the water penetration layer on the ground floor and into the data centre.
DFT Wholesale's manager, Greg Ashmore, confirmed there had been "a bit of damage" to equipment but that the centre was largely unharmed.
Reports in the Whirlpool forums put the outage at between one and four hours.
Ashmore, however, expressed concern at the building's water penetration structure. He said there had been a similar incident 18 months ago.
"It was supposed to be fixed then," he said.
A spokesperson for the building's managers, Jones Lang LaSalle, declined to comment.