Carter Validus buys USD65m data centre property in Philadelphia
Carter Validus Mission Critical Reit has acquired an enterprise data centre property in Philadelphia, Pennsylvania for a purchase price of USD65m.
The property is 100 per cent leased to a large investment management company.
The 121,000 square foot facility was built for the specific purpose of housing data centre 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,” says John Carter, chief executive officer of the company.
CBRE represented the seller in connection with sale of the property.