Generally speaking, there are four (4) tiers of "public" data centers are on the market, ranging from essentially a big room with some alright AC and a line out, to huge, highly secure (cameras, fingerprint readers, SSAE certifications, etc.) buildings with redundant power and HVAC systems.
The higher end ones are usually newer-ish, but there are lot of older "computer rooms" that offer acceptable-level benefits for a reasonable price. Lots of legacy customers and ISPs in these rooms, for the record. You get what you pay for but a lot of older DC spaces are just fine for most users; everyone thinks they need 99.999 but most don't.
There are also re-sellers and managed services companies who take out a footprint in data centers and then lease space in their cabs, sell bandwidth, IPs, etc. Using a series of resellers you can often get around restrictions as to what you're doing -- small fry MSPs don't ask a lot of questions -- but still get a data center footprint. These are sometimes one-man shows, and their quality and professionalism are often sub-par, which is how you end up with default iDRAC creds and the like.
Check out Data Center Maps or WebHostingTalk for some examples.
Source: data center ops manager for several different companies.