Mission critical REIT snaps up big sites in Georgia and Michigan
Data center REIT Carter Validus has bought up data centers in Alpharetta Georgia, and Flint Michingan, which total $24.2 million. Both have sitting tenants.
The purchases continue Carter Validus’ tactic of buying data centers occupied by mission critical IT service providers. In Alpharetta, Carter Valiidus (full name Cartver Validus Mission Critical REIT II) is buying a data center occupied by Sungard, and in Flint, it becomes the new landlord for Online Tech.
Online Tech, Flint township
Source: Online Tech
On a mission
The Sungard facility became Carter Validus’ third Alpharetta data center (ADC III) in February when the REIT bought it for $15.75 million. A single-story, 77,000 squ ft (7200 sq m) Tier III colocation data center, it is close to a Georgia Power substation, and 100 percent leased to Sungard Availability Services.
Built in 1999, it has been looked after by Sungard, which has invested in infrastructure, as well as mechanical and electrical system upgrades, says the Carter Validus release. It had two new diesel generators with underground fuel tanks (alongside four existing gensets) in 2013-2014, and it now has N+1 redundancy for power and cooling. There is about 46,000 sq ft (4.3 sq m) of raised floor space.
In Flint, Carter Validus paid $8.5 million for a Tier II data center whch was originally built for disaster recovery by General Motors (GM) but is now 100 percent leased to Online Tech, a firm with five data centers in the Midwest providing secure cloud and colocation.
The Flint site has about 44,000 sq ft (4000 sq m) of rentable space, with 12,000 squ ft (1100 sq m) of optimized raised floor space. It has “mainly N+1”) resiliency, with 4MW of service capacity through redundant feeds from a single substation. It has four 1MW generators onsite.
Online is looking forward to life with the new owner: “This transaction with Carter Validus allows us to ramp up our investment in our secure, compliant, enterprise cloud infrastructures, new DRaaS and security offerings,” said Yan Ness, CEO of Online Tech.