Tampa, Florida based Carter Validus Mission Critical REIT has agreed to buy the Southfield Data Center at 19675 W. Ten Mile in Southfield, Michigan for US$7.25 million.
The data centre – which totals some 52,940 sq ft – is let to Level 3 Communications and Sienna Heights University. Level 3 occupies 39,357 sq ft on a 15 year lease paying some US$12.70 per sq ft; whilst Sienna Heights University pays US$21 per sq ft for 13,583 sq ft of space. CV Mission Critical REIT says it plans to invest around S$350,000 in improvements and repairs to the property mostly associated with the exterior of the Southfield Data Center.
This most recent acquisition by Carter Validus follows the March announcement that company t had bought the 33,000 sq ft Northwoods Data Center, located in Norcross,Georgia, for a purchase price of US$5,.3 million. Whilst in January of this year, the company paid some US$94 million to buy the 338,000 sq ft Peachtree Data Center (pictured) in Atlanta, Georgia.