Strategic Data Center Fund Manager LLC, the data center real estate division of alternative investment sponsor Strategic Capital Fund Management, has purchased the Reston Data Center in Northern Virginia for approximately $8.25 million.
The tier III data center totals 21,100 rentable square feet and is 100 percent leased. Although the tenant’s name could not be disclosed, Strategic Data Center noted that the tenant utilizes the center for its internet infrastructure operations, and that it “delivers critical colocation services to [its] existing client base.” There are 10 years of lease term remaining with 3 percent annual rent escalations.
“The Northern Virginia market offers a number of benefits to data center operators and this region is vital to our country’s digital infrastructure,” said Bryan Marsh, chief executive officer of Strategic Data Center.
Strategic Data Center indicated that the Reston Data Center is a “highly secure facility with redundant designs to ensure 100 percent uptime and meets the high-density computing requirements of government agencies and major employers in the Eastern United States.”
The property has been updated and maintained over the years with renovations and upgrades made in 2008, 2015 and 2019. The facility also has ready access to rich fiber connectivity given its location in Fairfax County, the company said.
Strategic Data Center is an investment manager and capital partner focused on acquiring, developing and managing data center real estate assets that help support the digital economy, the cloud and mobile computing.