Carter Validus Mission Critical REIT II, Inc. has acquired the 250 Williams Atlanta Data Center (“250 Williams”) property on June 15, 2017, for approximately $166 million.
Commonly known as the American Cancer Society Center building, 250 Williams houses approximately one million square feet of office and data center space and is positioned in the heart of downtown Atlanta, overlooking the city’s renowned Centennial Olympic Park. Its central location provides a bustling metropolitan atmosphere as well as ample access to power and network fiber necessary to support the building’s data center infrastructure.
The 250 Williams facility is 87.8% leased to 12 tenants, including the Global Headquarters of the American Cancer Society and several well-known names in the data center industry. The nine-story building is constructed of poured and formed concrete floor and frame surrounded by a glass curtain. Each floor can support data center loads and the ceiling heights throughout the building are 14 feet or greater, allowing for additional data center occupancy. The property is located within a few blocks of Carter Validus Mission Critical REIT, Inc.’s Peachtree Data Center facility and Colo Properties Atlanta, LLC’s 56 Marietta Street data center with plenty of excess power on-site. 250 Williams includes a four-level, partially below-ground parking structure with 1,035 parking spaces.
CV Mission Critical REIT II’s property management affiliate, Carter Validus Real Estate Management Services II, LLC, will serve as the building’s property management company.
“Our expertise as a trusted real estate buyer led us to this unique opportunity and we could not be more thrilled to be the new owners of 250 Williams. From its credible tenant mix to its plethora of value-add opportunities, we are excited for the value we believe this property brings to our portfolio,” said John E. Carter, chief executive officer of CV Mission Critical REIT II.
Michael A. Seton, president of CV Mission Critical REIT II, added, “This acquisition expands our presence in the Southeast and contributes to our portfolio’s diversity by tenancy and geography; we look forward to working with the tenants at 250 Williams.”