Real estate firm Lincoln Property Company has acquired a data center in Alpharetta, Georgia.
The facility, which was acquired with customers in place, has immediate capacity for additional leasing, according to the company.
Details on the facility location, seller, or terms of the deal were not shared. DCD has reached out for more information.
The site has 7.2MW available for lease immediately, with the planned expansion of an additional 30MW of data center capacity.
“Georgia, like many other established data center markets, has extremely limited data center inventory and significant demand for more capacity right now," said Ryan Sullivan, EVP of Lincoln’s Data Center Group.
"Our strategy with this acquisition was to acquire an asset with in-place cash flow and near-term expansion capability, allowing us to deliver core market infill capacity quickly, catering to the backlog of demand in the region."
Sullivan said Lincoln "plans to acquire more underutilized data center assets, along with larger development opportunities and industrial conversions across the country.”
Lincoln now owns and operates three facilities across the Atlanta area, and has recently leased more than 20MW to customers in the region. It acquired a former Blackberry facility in the area in 2022.
The firm said it has converted underutilized enterprise data center assets to higher-density, multi-tenant uses in markets including Dallas, Atlanta, Washington DC, Phoenix, and Chicago.
CBRE Data Center Capital Markets exclusively represented the seller in the transaction.
Lincoln previously owned and operated data centers through the Lincoln Rackhouse brand; however, the name was retired last year.