Principal Real Estate Investors, the real estate investment group for Principal Global Investors, and Lincoln Rackhouse, the data center branch of Lincoln Property Company, have acquired a key data center in the center of Atlanta’s high-tech sector. The strategically located data center is an enterprise-grade, highly secured facility, ready to be deployed to customers’ specific design and power requirements.
The 38-acre site’s 185,000 square foot building has a capacity of over 7MW and is designed to be expandable to over 13MW. Additionally, the location is capable of supporting a separate, 30MW, ground-up data center building, which would be a good fit for operators and hyperscalers. Financial terms of this data center acquisition were not disclosed.
According to Data Center Hawk, the competitive colocation and cloud environments, affordable power prices, minimal risk of natural disasters, and strong connectivity are all contributing to Atlanta’s data center market’s continued growth. With more than 55 colocation providers and businesses calling it home, the city has developed into a tech hotspot.
“We’re proud to partner with Principal Real Estate Investors in a market that’s quickly become one of the most robust data center regions in the U.S.,” said Martin Peck, Executive Vice President, Lincoln Rackhouse. “Our plan is to begin immediate development of additional turn-key critical floor space, that will ultimately align and address our customer’s current and future expansion needs.”
Growth in U.S. Southeast
“This acquisition of a high-quality asset in such a dynamic market provides an excellent addition to our portfolio of data centers,” said Ben Wobschall, Managing Director, Portfolio Management for Principal Real Estate Investors. “We’re thrilled to be able to bring immediate availability and expansion to accommodate our customers’ growth in the Southeast.”
The property will continue to receive facilities management, engineering, and construction services from St. Louis-based Ascent. Digital Crossroad and the CBRE data center solutions team in Atlanta will handle marketing and leasing.