Data center developer Digital Realty has acquired 8025 North Interstate 35, a fully-leased data center facility in Austin, Texas, for $12.5 million, the company said today. The property totals 62,237 rentable square feet and is 100 percent leased on a long term, triple net basis to "a leading provider of integrated disaster recovery, managed services, IT consulting and business continuity management software solutions." The deal continues Digital Realty's initiative to buy fully-leased income properties, which generate revenue through rent from existing tenants.
The existing facility delivers approximately 4.5 MW of critical load over 30,000 raised square feet with an N+1 power configuration. Included in the acquisition is 11.28 acres of land which is capable of supporting up to 135,000 square feet of future data center development.
"This acquisition adds a high quality and fully leased operating asset to our portfolio," said Scott Peterson, Chief Acquisitions Officer of Digital Realty. "The property is located near our 7500 Metro Center Drive facility, expanding our presence in the Austin market and contributing to our revenue stream with a long term, stabilized lease."