Carter Validus Mission Critical REIT II, Inc., a publicly registered non-traded real estate investment trust, purchased a 288,000-square-foot building housing the AT&T Hawthorne Data Center for approximately $79.5 million.
The single-story data center is located on a 15.87-acre site in Hawthorne, California in Los Angeles County. The site is surrounded by an 8-foot iron fence with guarded gates on the east and west ends of the property. Security features include 24-hour on-site security staff, closed circuit monitors, secure key-card access, biometrics scanner, a mantrap, and alarmed doors.
“The acquisition of the AT&T Hawthorne Data Center represents an opportunity to invest in a mission critical property with a strong brand affiliation,” said Michael A. Seton, President of CVMC REIT II. “We strive to be a true capital partner for our tenants and are excited to expand our already important relationship with AT&T Corporation by adding this high-quality data center to our growing portfolio.”
The REIT will assume the existing absolute net lease with AT&T Corporation.
Carter Validus Mission Critical REIT II, which went effective in May 2014, focuses on net leased healthcare real estate and data center properties. As of October 14, 2016, the company has raised $755.5 million in investor equity from the sale of class A and class T shares, and oversees a portfolio of 43 properties (34 healthcare and 9 data centers).