AT&T switching facility (Photo by John W. Adkisson/Getty Images)

Carter Validus Buys Level 3-Leased Minnesota Data Center

Carter Validus Mission Critical REIT II has acquired a three-building property in Minnesota, consisting of two data centers and an office building. The property is fully occupied by tw telecom of Minnesota, a Level 3 Communications subsidiary, Uroplasty, and a publicly traded Fortune 500 company whose name Carter Validus did not disclose.

Carter Validus Mission Critical REIT II is one of two subsidiaries of Carter Validus REIT Investment Management Company. The second subsidiary is called Carter Validus Mission Critical. The investment management firm specializes in buying leased data centers and healthcare facilities in tier-two markets around the US.

Carter Validus II was launched recently and now counts three data center properties in its portfolio: two in Minnesota and one in Indiana. Its healthcare portfolio is much larger, consisting of about 20 properties in the South, the Midwest, and the Northeast. Its sister company owns close to 20 data centers and close to 50 healthcare facilities across the country.

The new Minnesota, campus in the Carter Validus II portfolio measures about 135,000 rentable square feet and sits on a 15.54-acre property in Minnetonka, southwest of St. Paul and Minneapolis. The main data center facility has 3 megawatts of critical power capacity; the second one has 1.25MW. The third building houses office space and a research lab.

tw telecom occupies more than 100,000 square feet. Uroplasty occupies about 22 percent of the property. The rest is leased to the unnamed Fortune 500 tenant.

“The high concentration of Fortune 500 companies in the Twin Cities, paired with a large demand for data center space and its cooler inland location, makes this market ideal for expanding our portfolio,” “Michael Seton, the company’s president, said in a statement.

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About the Author

San Francisco-based business and technology journalist. Editor in chief at Data Center Knowledge, covering the global data center industry.

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