Strategic Capital Fund Management’s data center real estate division, Strategic Data Center Fund Manager, has completed the acquisition of a triple net leased data center located in the Denver metropolitan area from Chirisa Investments for approximately $13.5 million.
Located in a growing secondary data center market, this 32,000-square-foot facility was built in 1999 and is 100 percent leased to a multi-cloud and managed services provider. Having recently executed a 15-year lease on the property, the tenant has indicated that it plans to spend more than $4 million on capital improvements, including $2.5 million to upgrade the data center’s critical capacity from 1 megawatt to 1.5 megawatts to meet or exceed the criteria of a Tier III data center. With 14 data centers across the United States, the tenant has built a colocation and cloud service infrastructure platform to service businesses of all sizes with their IT investments while moving to the cloud.
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