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.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
