Tampa investment firm acquires data center for $5.2 million
Crystal Owens
Published: Dec 12, 2018

A Tampa investment real estate investment company has acquired a single-story Connecticut data center for $5.2 million.

Carter Validus REIT Management Company LLC is now owner of Hartford Data Center, a 19,247-square-foot space located on an acre in the city's downtown area.

The center is constructed of concrete block and steel frame with a glass and masonry exterior. It includes a display area on the roof for sculptures by local artists as part of Hartford's downtown arts initiative.

The space, according to CV REIT officials, has recently been renovated by the tenant, a subsidiary of a large, global telecommunications company.

CV REIT said the tenant signed a 12-year lease in January, with an option to renew.

"The acquisition of Hartford Data Center highlights our team's ability to consistently source long-term, stable cash flows in the mission critical data center space as we strategically expand our footprint,” said CV REIT Management CEO Michael A. Seton in a statement.

The acquisition is one of three for the real estate investment company this year. The company in June acquired San Jose Data Center, comprised of enterprise and colocation space in California, for a contract purchase price of $49.15 million, excluding acquisition fees and costs. On the same day, CV REIT acquired Oceans Katy Behavioral Health Hospital in Texas for $15.32 million.

In October, CV REIT acquired a data center in St. Louis for $3.2 million.