Aphorio Carter Acquires $13 Million Arizona Data Center
Aphorio Carter Fund Management Company LLC, the infrastructure and data center division of Carter Funds, announced that it has acquired the Tucson Tech Data Center in Tucson, Arizona for $13 million and is planning to spend $8 million in improvements to the property.
Tucson Tech Data Center is 100% net leased to TECfusions, a data center development and operations entity and energy-efficient microgrid developer and operator. The acquisition marks the fourth data center purchase for Aphorio Carter, an investment management company focused on acquiring digital and mission-critical infrastructure, data centers, switch sites and technology-related real estate throughout the U.S.
Tucson Tech Data Center is located 80 miles southeast of Phoenix, one of the largest data center markets in the United States.
The Tucson Tech Data Center site includes a data center building situated on more than eight acres with 133,452 square feet currently consisting of 40,792 of raised floor and around 6.562 megawatts of critical power. Originally built in 1989, with data center phases beginning in 2004, the property has a new 15-year absolute triple net lease with TECfusions.
“The Tucson Tech Data Center is a fantastic addition to our rapidly expanding portfolio due to its ideal location in the southwest and sustainability measures,” said John Regan, chief investment officer of Aphorio Carter. “The property’s focus on sustainable data center construction, energy efficiency, and renewable power sources helps lead the data center industry toward sustainability. The demand for technology, digital storage, data transmission, and added capacity at data centers that support our digital-driven world continues to grow rapidly and we are excited about the opportunity and value this data center brings to our portfolio.”
Carter Funds is a vertically integrated, full-service real estate acquisition and fund management company based in Tampa, Florida. Carter has managed the completion of $86 billion in multifamily transactions.
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