StratCap Data Centers, the data center real estate division of StratCap, has acquired a 28,500-square-foot data center in Franklin, Wis. Financial terms were not disclosed.
The data center sits on 2.64 acres and has 1.2 megawatts of critical load, which is expandable to 2.4 megawatts by building out existing shell space.
Located in a growing secondary edge data center market, the property is fully leased on a triple-net basis to Expedient, a multi-cloud, managed-services provider that operates more than 20 data center locations and helps its clients transition to the cloud. Fifteen years remain on the lease term.
“We were able to diversify our portfolio in an off-market transaction with what we believe is an attractive asset acquired below appraised value, with a high-quality tenant, in a growing data center market,” said Bryan Marsh, CEO of StratCap Data Centers. “We think the relatively predictable rental revenue from the in-place, long-term lease and th