The larger of the two assets sold is 4055 Valley View Ln., a 240,000-sf office building located in suburban Dallas. The other is 100 Technology Center Dr., a 197,000-sf suburban office building located in Stoughton, MA. Company CFO Bill Stein declined to reveal the individual sales prices or the name of the buyer.
According to the company's annual report, the Dallas building as of the end of 2006 was 90.5% leased, the gross annualized rent per occupied sf was $20.74 and the property was producing a gross annualized rent of $4.51 million. The Stoughton building was 100% leased, the annualized rent per occupied sf was $19 and the property was producing a gross annualized rent of $3.74 million.
"The sale…allows us to redeploy capital to support our acquisition and redevelopment programs," says Michael Foust, CEO of Digital Realty Trust. Digital Realty's total portfolio includes 11.8 million sf in 62 properties. During the first quarter of the year, Digital Realty acquired 787,000 sf for $160.7 million.
Last week, it announced the $62.5-million acquisition of a 432,000-sf complex in Ashburn, VA that was previously known as the Loudoun Exchange. The property, which is 40% occupied, consists of three single-story buildings located at 43881, 43831 and 43791 Devin Shafron Dr. The seller was an affiliate of the Archon Group.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
