ANDOVER, MA-Carter Validus Mission Critical REIT said it has bought a 92,700-square-foot data center here, paying $12 million. The Kansas City, MO-based REIT did not identify the seller; Real Capital Analytics data indicate it was Boston-based Winthrop Realty Trust, which paid $7.6 million for it in December 2005. Richards Barry Joyce & Partners brokered the sale, according to RCA.
Located in a suburb 25 miles north of Boston, the property identified by RCA as the Windstream Andover Data Center dates from 1984. It’s located at 15 Shattuck Rd. here, and was constructed as a build-to-suit for a leading telecommunications firm.
Currently the data center is 100% net leased to Windstream subsidiary Paetec, which provides advanced network communications, including cloud computing and managed services. The tenant undertook extensive capital improvements to the property in 2010; its lease runs through 2022, according to RCA data.
“We are pleased to continue to expand our diversified portfolio of mission critical real estate assets throughout key markets across the United States,” Carter Validus CEO John Carter says in a release. It marks the REIT’s first Northeast data center purchase and second acquisition overall in the region, following its October 2012 purchase of Vibra New Bedford Hospital in New Bedford, MA for $26.1 million.
The deal also marks the 20th acquisition for Carter Validus, which has now spent nearly $475 million on mission-critical properties including data centers. Its largest purchase to date was the Philadelphia Center, for which it paid $65 million this past November in an acquisition from CSX Corp.