Strategic Data Center Fund Manager acquired a data center property in Reston, Virginia for approximately $8.25 million.
The tier III data center includes 21,100 rentable square feet and is 100% leased to a data center service provider that has over 100 years of collective experience in the data center and IT landscape. The facility delivers critical colocation services to the tenant’s existing client base. With over 10 years of lease term remaining and 3.0% annual rent escalators, the tenant utilizes the Reston Data Center for its Internet infrastructure operations.
“The acquisition of the Reston Data Center highlights our team’s ability to source long-term, stable cash flows in this dynamic sector as we strategically expand our footprint and further diversify our portfolio of data center assets,” said Bryan Marsh, Chief Executive Officer of Strategic Data Center. “The Northern Virginia market offers a number of benefits to data center operators and this region is vital to our country’s digital infrastructure,” Marsh added.
