LEONIA, NJ-A 67,000-square-foot mission-critical data center here has been sold for $14.7 million to a Florida REIT. The facility is fully leased to Infocrossing, a subsidiary of Wipro.
In a two-part transaction, Leonia Data Center at 2 Christie Heights was sold to Server Farm Realty, a national data center developer and operator, and then acquired by Carter Validus, a Florida-based REIT.
Cushman & Wakefield's Sean Brady and Grace Braverman represented Server Farm in acquiring the property from Cole Realty Group, represented by CBRE. Carter Validus paid a final sale price of $14.76 million, or more than $220 per square foot.
The two-story building includes first-floor data center space with more than 25,000 square feet of raised floor white space, and office space on the second floor. “This facility is on a great power grid, has great proximity to Manhattan and a good parking ratio,” said Brady, of C&W's Global Data Center advisory group. “All of those reasons made the property a very attractive investment opportunity.”
John Carter, CEO of Carter Validus, said his company is on a mission to add to its portfolio of “mission critical assets.”
C&W's group focuses on greenfield properties, industrial conversions, wholesale, co-location, managed services, Cloud, and corporate data centers and disaster recovery sites. The group includes 30 brokers and offers business continuity and crisis management, incentives and location consulting, cost segregation, appraisers and project and facility managers.
It currently manages more than 20 million square feet of mission critical space.
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