Carter Validus Mission Critical REIT II, Inc. Acquires 153,000-Sq-Ft Data Center
The two-story facility is located on 22.77 acres in Andover, MA, and is 100% leased to two international enterprise tenants.
Carter Validus Mission Critical REIT II, Inc. (“CVMC REIT II”) acquired the Andover Data Center II on November 8, 2016, for $37 million.
The two-story, 153,000-sq-ft facility is located on 22.77 acres in Andover, MA,and is 100% leased to two international enterprise tenants.
One of the tenants, Navisite, LLC (“Navisite”), which is a part of Spectrum Enterprise and a subsidiary of Charter Communications, Inc., is a leading international provider of enterprise-class, cloud-enabled hosting, managed applications and services. The other tenant is a weather forecasting and information technology company that provides weather and data-driven business solutions to global clients.
Constructed in 2000, the Andover Data Center II facility has poured-in place reinforced concrete footings and foundation walls with a façade of insulated metal panels and concrete slab. Security features include dual authentication access requirements, on-site 24x7x365 security staff, video surveillance, and bio-scan palm readers. Diverse fiber-entry points with multiple carriers are available on-site providing comprehensive network redundancy and power is provided by 2,500 kVA pad-mounted transformers with backup available through four Caterpillar generators, five 750 kVA Enersys batteries and four 275 kVA Powerware UPS.
“We believe Andover is a favorable location for this property due to its close proximity to Boston’s large concentration of businesses with demand for data center services, and its cooler temperatures are ideal for data center environments. We are pleased with the quality of the facility as well as the tenants that fully occupy it,” said Michael A. Seton, president of CVMC REIT II.
“This acquisition is a representation of our commitment to acquire mission critical buildings with long-term, creditworthy tenants. We believe our investment in this facility will add value to our growing portfolio of data center and healthcare assets,” said John E. Carter, chief executive officer of CVMC REIT II.