Carter Validus Mission Critical REIT II, Inc. ("CVMC REIT II") announced its acquisition of the McLean Data Center Portfolio for $85 million. The portfolio consists of two colocation data center properties located in McLean, Virginia.
Features of McLean I property include:
- Two-story colocation data center facility
- 65,794 total sq ft
- 94.9% leased for an approximately 16.5-year remaining term at acquisition
- Major tenant: A leading global telecommunications company
- 45,450 sq ft of raised flooring
- Multi-layered security control procedures and an N+1 electrical design
- Redundant UPS in N+1 configuration and a battery bank provide emergency power
Features of McLean II property include:
- Three-story colocation data center facility
- 62,002 total sq ft
- 100% leased for an approximately 7.5-year remaining term at acquisition
- Major tenant: PAETEC Communications, LLC, a Windstream company
- 40,000 sq ft of raised flooring
- Multi-layered security control procedures including onsite personnel, biometric access systems, and video surveillance
- The HVAC system has near-2N cooling tower redundancy, near-2N chilled water pump redundancy, an N+1 backup DX air-cooled chiller, and dual loop chilled water
- Redundant 2N "A" side and "B" side power distribution with automatic failover
"We believe this acquisition exemplifies our ability to secure mission critical data centers in strong markets backed by industry-leading tenants under long-term leases. The McLean Data Center Portfolio is an important and high quality addition to our growing data center portfolio," said Michael A. Seton, president, CVMC REIT II.
John E. Carter, chief executive officer, CVMC REIT II, added, "As we continue to execute our mission critical, income-producing real estate investment strategy, our goal is to make decisions which will benefit stockholders, tenants, and capital partners. We believe this high-quality acquisition accomplishes that."