ASHBURN, VA—Griffin Capital Essential AssetREIT has acquired an 80% stake in a data center owned bySan Francisco-based Digital Realty, which will keep a 20% interestin the property. The 80% stake traded for $148.4million, which Griffin is funding via equity and loanproceeds. This is the Segundo, CA-based REIT's first investment ina data center facility.

The approximately 132,280 square foot data center was developedin 2009 and has 16 megawatts of utility capacity and 9 megawatts ofIT load capacity powered by the dedicated 80-megawatt GreenwaySubstation located within the Ashburn Campus. Thisfacility is 100% leased with a weighted average remaining leaseterm of approximately seven years.

Digital Realty will continue to manage the property.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.