Lincoln Property Company Southeast Brokers Sale of Fortune 100 Data Center in Metro Atlanta
Lincoln Property Company Southeast (Lincoln) has handled the $50 million sale of a 184,553-square-foot data center in suburban Atlanta. Datawind LLC sold the property, which is fully occupied by a AA+ rated credit tenant on a long-term lease. Carter Validus Mission Critical REIT purchased the property, which is located in Alpharetta in metro Atlanta’s North Fulton submarket, in September 2014.
Tony Bartlett, Denton Shamburger and Chip Sipple of Lincoln represented the seller in a direct transaction with Carter Validus.
The data center was originally constructed in 1986 for Contel Corporation and sits on a beautiful 21-acre site in Windward Concourse Office Park. Datawind LLC purchased the property in 1992.
Alpharetta is known as the “Technology City of the Southeast,” and the North Fulton submarket is home to one of the highest concentrations of corporate data center facilities in the region. The submarket’s educated labor force, fiber optic networks and abundant power supply have made this area a mecca for data centers.
“This property generated a very high level of interest in the marketplace due to the credit worthiness of the tenant, the importance of the facility and the location within the submarket,” said Bartlett, senior vice president at Lincoln who oversees the firm’s Atlanta office. “Not only was our client pleased to complete the sale, but the buyer was able to obtain a data center possessing tremendous technical attributes with an incredibly high-credit tenant.”