COSTA MESA, Calif.--(BUSINESS WIRE)--Strategic Data Center Fund Manager, LLC (“Strategic Data Center”) announced the acquisition of a data center property (“Reston Data Center”) for approximately $8.25 million.
The tier III data center includes 21,100 rentable square feet and is located in one of the largest and most prominent data center markets in the world. The building 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.
Reston Data Center is a highly secure facility with redundant designs to ensure 100% uptime and meets the high-density computing requirements of government agencies and major employers in the Eastern United States. The property has been consistently updated and maintained over the years with renovations and upgrades made in 2008, 2015 and 2019. The facility also boasts ready access to rich fiber connectivity given its ideal location in the heart of Fairfax County.
About Strategic Data Center
Strategic Data Center is an investment manager and capital partner focused on acquiring, developing and managing data center real estate assets that help support our digital economy, the cloud and mobile computing. To help achieve its investment objectives, Strategic Data Center establishes mutually beneficial partnerships with data center owners, operators and users throughout the U.S. to identify and acquire high-quality data center properties. The company’s goal is to align interests, provide transparency and offer fair pricing to ensure longstanding working relationships for years to come.