TAMPA, FLA. — Carter Validus Mission Critical REIT Inc. has acquired two data centers for approximately $46 million.
The acquisitions include the Milwaukee Data Center in Harland, Wis., which was acquired for a purchase price of $19.5 million; and the Windstream Charlotte Data Center in Charlotte, N.C., acquired for $26.4 million.
The Milwaukee Data Center is a 59,000-square-foot net rentable area. The property is fully leased to Thomson Reuters U.S. LLC, an affiliate of Thomson Reuters Corp.
The Windstream Charlotte Data Center is a 60,850-square-foot multi-tenant property built in 1999. The property was renovated in 2013 for data center use.
“The Milwaukee Data Center and Windstream Data Center are investments consistent with our strategy of buying high-quality assets that diversify our holdings by geography and tenancy,” says Michael Seton, president of Carter/Validus Advisors.
The Tampa, Fla.-based non-traded REIT has a total investment portfolio of approximately $1.1 billion, which consists of 3.5 million rentable square feet across 16 states. The weighted average remaining lease term of the portfolio is approximately 12 years and the portfolio has average annual rental rate increases of 2.3 percent.
— Danielle Everson