Carter Validus Mission Critical REIT, Inc. has acquired the Milwaukee Data Center used exclusively by Thomson Reuters U.S. LLC for $19,500,000. The property, located in Harland, Wisconsin, covers 59,000 sq ft.
The deal was part of a dual purchase which included the Windstream Charlotte Data Center in in Charlotte, North Carolina, which went for $26,400,000. This second property has a number of tenants across 60,850 sq ft. Originally built in 1999, the building was renovated in 2013 for use as a data centre.
CVMC REIT states:
[Our] investment strategy continues to be focused on acquiring high quality, long-term net leased data center and healthcare properties throughout the United States that are “mission critical” or essential to the successful operations of its tenants.
John Carter, Chief Executive of Carter Validus Mission Critical, commented that the new assets also help to “diversify our holdings by geography and tenancy”.
Carter Validus Mission Critical is a Non-traded, publicly registered real estate investment trust (REIT). The recent transaction brings CVMC REIT’s total investments to $1,142,846,970 and the company boasts an average annual rental increase of 2.3%.