A data center in Columbia, Missouri, is up for sale.
Currently leased by CARFAX, the facility is located at 2301 Maguire Blvd and spans 36,835 sq ft (3,420 sqm).
The asking price for the facility is $9.65m and is listed by CBRE on both Crexi and LoopNet.
The single-story facility was built in 2003 and renovated in 2012, and has been leased by CARFAX for the past two decades. In June this year, CARFAX extended its lease by an additional seven years making it a total of 10 years.
The company has completed two expansions during its time at the 7.7 acre site, one to accommodate more staff - a total of around 200 - and another to increase its data storage space. How much of the facility is used for office space versus data center space is not stated.
The annual rent rate for the data center increases $0.50 per square foot annually throughout the initial term and in each of the two five-year renewal options. The investment has an estimated cap rate of 7.25 percent.
CARFAX was founded in 1984 and houses the "most comprehensive vehicle history database in North America." The company's parent company, IHS Markit, merged with S&P Global Inc. in a deal valued at $44 billion in 2022.
Missouri does not have a particularly significant data center market. According to DataCenterMap, the state is home to 41 data centers, the majority of which are split between Kansas City and St Louis, both of which lie on the borders of the state. Columbia, which is in central Missouri, has three data centers, operated by Lumen, Orion Data Centers, and ISG Technology.
Despite this, interest seems to be growing. Local utility Ameren has stated that it is seeing “gigawatts” of potential opportunity in its future pipeline, with a large portion coming from data centers. Hyperscalers including Meta and Google are developing data centers in the state.
