Carter Validus Mission Critical REIT continues to acquire data center properties. On Monday the company said it has paid $12 million to acquire a data center property in Andover, Massachusetts, about 25 miles north of Boston.
The property is fully leased under a long term, net lease to a leading provider of advanced network communications, including cloud computing and managed services. The purpose-built facility, originally constructed as a build-to-suit for a major telecommunications company, totals 92,700 square feet and has benefited from extensive capital investment by the current tenant.
“We are pleased to continue to expand our diversified portfolio of mission critical real estate assets throughout key markets across the United States,” said John Carter, CEO of Carter Validus Mission Critical REIT, Inc.
The announcement follows Carter Validus’ announcement last week that it has purchased the Raleigh Data Center property for $19.5 million. The multi-tenant data center is located near Raleigh-Durham International Airport in Morrisville, NC. The 143,770 square foot property, originally constructed in 1997, is 100 percent leased to four tenants.
“Given the property’s desirable location and long term leases with high-quality tenants, we believe that the Raleigh Data Center is a great addition to our growing portfolio of mission critical real estate”, said Carter.
Carter Validus Mission Critical REIT is focused on two sectors, data center and healthcare, citing societal trends that it believes will boost demand for data storage and outpatient healthcare. The company owns properties in Dallas, Atlanta and Philadelphia.