Carter Validus, Server Farm Realty Team on NJ Acquisition
August 22nd, 2013 By: Rich Miller
Carter Validus Mission Critical REIT and Server Farm Realty have partnered in the acquisition of a fully-leased data center in Leonia, New Jersey. The 67,000 facility is 100 percent leased on a long-term basis to Infocrossing, a subsidiary of Wipro.
Server Farm Realty acquired the property from Cole Realty Group and then sold it to Carter Validus for a final sale price of $14.76 million, according to Cushman & Wakefield, which represented Server Farm Realty in the transaction.
“We’re pleased to add an asset of this quality in an important data center market like New York City and continue to add to our portfolio of mission critical assets.” said John Carter, CEO of Carter Validus Mission Critical REIT.
The two-story building includes first-floor data center space with more than 25,000 square feet of raised floor white space, and office space on the second floor.
“This facility is on a great power grid, has great proximity to Manhattan and a good parking ratio,” said Sean Brady, senior director and co-founder of Cushman & Wakefield’s Global Data Center Advisory Group. “All of those reasons made the property a very attractive investment opportunity.”