Lincoln Property Purchases Data Center in Atlanta from Coca-Cola in Sale-Leaseback

ATLANTA — Lincoln Property Co. Southeast, in conjunction with its data center division Lincoln Rackhouse and a joint venture partner advised by Bailard Inc., has purchased an 88,000-square-foot data center in Atlanta from The Coca-Cola Co. in a sale-leaseback transaction. Coca-Cola will lease the facility from Lincoln through 2018 as the company continues to migrate its IT apps and data to cloud-based services. The new ownership plans to master lease the data center to a co-location provider once the Coca-Cola lease expires. Located at 40 Perimeter Center E. in Atlanta’s Central Perimeter submarket, the data center has been home to several Coca-Cola divisions over the past 15 years. Lincoln’s Chip Sipple will spearhead leasing locally and will team with Ryan Sullivan of Lincoln Rackhouse to identify national tenants and co-location providers to lease the building. Lincoln has also assumed management of the facility.