Carter Validus Mission Critical REIT, Inc., announced today that it acquired an enterprise data center property in Philadelphia, Pa. for a purchase price of $65 million. The property is 100% leased to a large investment management company.
The 121,000-square-foot facility was built for the specific purpose of housing data center equipment. It was constructed in accordance with stringent reliability and security standards, allowing the structure to potentially withstand extreme weather conditions including hurricanes, tornados, and earthquakes.
“We believe the quality of this tenant, combined with their long remaining lease term and significant capital investment in the property will provide a consistent rental income stream for our portfolio for years to come,” said John Carter, Chief Executive Officer of the Company.
CBRE represented the seller in connection with sale of the property to the Company.