Strategic Capital Fund Management, through data center real estate investment platform Strategic Datasphere, has completed the acquisition of a Tier IV equivalent data center located in Alpharetta, Ga. The sales price was $80 million.
The seller was Legacy Investing, a Virginia-based company focused on mission-critical real estate.
The greater Atlanta area is the nation’s seventh-largest data center market with appealing characteristics such as low energy and operating costs, excellent state and local tax incentives, as well as being a strong connectivity hub.
Built in 1999 for a leading financial services company and renovated in 2008 and 2020, the 165,000-square-foot state-of-the-art facility is 100 percent leased to two investment-grade tenants and is located in a popular data center corridor that serves enterprise users and colocation operators. The property has 5.4 megawatts of 2N critical capacity that can be expanded to 8.1 megawatts at N+1. The facilit