Strategic Data Center Fund Manager has acquired a data center property for approximately $8.25 million.
The tier III data center includes 21,100 rentable square feet and is located in one of the largest and most prominent data center markets in the world. The building is 100 percent leased to a data center service provider that has over 100 years of collective experience in the data center and IT landscape. The facility delivers critical colocation services to the tenant’s existing client base. With over 10 years of lease term remaining and 3 percent annual rent escalators, the tenant utilizes the Reston Data Center for its internet infrastructure operations.
“The acquisition of the Reston Data Center highlights our team’s ability to source long-term, stable cash flows in this dynamic sector as we strategically expand our footprint and further diversify our portfolio of data center assets,” said Bryan Marsh, CEO of Strategic Data Center. “The Northern Virgin
