Carter Validus Mission Critical REIT, Inc. has announced that it has acquired the Northwoods Data Center, located in Norcross, GA, for a purchase price of $5,300,000, plus closing costs. The property is located about 20 miles from downtown Atlanta and has approximately 33,000 sq ft.
The Northwoods Data Center is 100% leased through 2025 to a co-location tenant that operates in ten separate markets and runs a total of twenty-one data centers. Due to growing demand for virtualization, managed hosting, and cloud based services, this tenant has commenced on its third upgrade to the property, which includes increasing power capacity, significantly expanding the raised floor area and updating HVAC units.
“We believe this property is well located within the greater Atlanta area,” says John Carter, CEO of Carter Validus Mission Critical REIT, Inc. “Given its desirable location and well-established, long-term tenant, the Northwoods Data Center is a great addition to our growing portfolio of mission critical real estate.”