Bayshore Data Center is adjacent to Silicon Valley Power and U.S. Highway 101 in the Santa Clara data center cluster in Silicon Valley. Its two buildings--a 160,000-square-foot building at 1350 Duane Ave. and a 25,000-square-foot building at 3080 Raymond St.--are fully leased to tenants including Sprint Communications, Equinix and Layer42.Net.

Bryan Ley and John Crump of HFF's Los Angeles office and Gerry Rohm and Zane Sweet of HFF's San Francisco were the brokers with the marketing assignment. Rohm says the offering attracted "tremendous interest" due to its in-place assumable debt, its "terrific location" in Santa Clara and generally growing demand for the product type. Digital Realty assumed a $52.8 million mortgage that bear s interest at 5.423% and is interest-only through the initial maturity date of October 1, 2012.

"Demand for data centers such as Bayshore continues to outpace supply by a margin of two to one," he says. "There is limited new supply in the data center cluster coming online in the next three years due to a lack of construction financing, which will continue to drive up rents for data center services."