Carter Validus Mission Critical REIT, Inc. Acquires WI Data Center Property
The move is a sale-leaseback transaction with AT&T.
Carter Validus Mission Critical REIT, Inc. ("CVMC REIT") has announced that it has acquired the AT&T Data Center property in Waukesha, WI for approximately $52,000,000. The property is strategically located 18 miles west of Milwaukee, adjacent to Interstate 94, within the submarket of Pewaukee/Waukesha, Wisconsin. The area is conducive to a highly efficient data center environment as it benefits from the local climate, which offers natural cooling and historically limited exposure to environmental and weather-related risks.
The property, sold to CVMC REIT by AT&T and leased back for ten years by AT&T, was built in 1989 and measures approximately 142,952 sq ft, including over 40,000 sq ft of raised floor space and 60,000 sq ft of supporting infrastructure and critical systems. The data center houses a wide array of enterprise applications for AT&T's business operations.
"The addition of the AT&T Data Center is representative of our commitment to acquire high quality, mission critical assets under long-term net leases with credit tenants," said John Carter, CEO, CVMC REIT. "We look forward to adding more assets of this caliber to our investment portfolio."
With this latest acquisition CVMC REIT has acquired a total of 31 properties consisting of 2,064,937 square feet and a grand total of $675,622,340 in investments.