Acquisition of Alpharetta Tier 3 Facility Brings Turnkey Solutions to Growing Market
DALLAS, August 8, 2022 /PRNewswire/ — Lincoln Rackhousethe data center division of Lincoln Property Companyand Main real estate investorsPrincipal Global Investors’ real estate investment team, announced the acquisition of a key data center located in the heart of from Atlanta high-tech corridor. The strategically located data center is a highly secure, enterprise-grade facility, ready to deploy according to customers’ specific design and power requirements.
The 185,000 square foot facility sits on a 38 acre parcel with a capacity of over 7 MW and design to expand to over 13 MW. Additionally, the site can support a separate 30MW data center development, ideal for today’s hyperscalers and operators.
According to Data Center Hawk, from Atlanta The data center market continues to grow owing to the favorable business climate, competitive colocation and cloud environments, reasonable power cost, low risk of natural disasters, and robust connectivity. The city has cultivated a tech hub, with more than 55 colocation providers and businesses inhabiting it.
“We are proud to partner with leading real estate investors in a market that has quickly become one of the strongest data center regions in the United States,” said Martin PeckExecutive Vice President, Lincoln Rackhouse. “Our plan is to begin immediate development of an additional turnkey critical floor space, which will align with and ultimately meet the current and future expansion needs of our customers.”
“This acquisition of a high-quality asset in such a dynamic market is a great addition to our data center portfolio,” said Ben Wobschall, managing director, portfolio management for major real estate investors. “We are excited to be able to provide immediate availability and expansion to meet our customers’ growth in the Southeast.”
Saint Louis Ascent will continue to provide facilities management, engineering and construction services at the site. Marketing and rental will be handled by Digital Crossroad and CBRE Atlanta based data center solutions team.
About the main real estate investors
Principal Real Estate Investors is the dedicated real estate investment group within Principal Global Investors, a diversified asset management organization and member of Principal Financial Group®. As one of the top 10 global property managers1 Principal Real Estate Investors has over 60 years of real estate investing experience2. The firm’s capabilities span the spectrum of public and private equity and debt investments, and it manages or sub-advises $100 billion in commercial real estate assets (at June 30, 2022).
About Lincoln Rackhouse
Lincoln Rackhouse, the data center division of Lincoln Property Company, is focused on investing in and developing critical real estate while helping organizations of all sizes locate, analyze and secure data center space for lease. or to own. dallasLincoln Property Co., based in Lincoln, has earned its reputation as an efficient and professional manager of residential and commercial properties with over 50 years of experience building, owning and managing one of the world’s largest commercial real estate portfolios. in United States. With 20 years of experience supplying mission-critical data centers, Lincoln Rackhouse offers unparalleled market and industry knowledge with an unbiased approach to meeting technology requirements.
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1 Managers ranked by total global assets (net of leverage, including contributions committed or received but not yet invested, REIT securities are excluded), at June 30, 2021. “The Largest Real Estate Investment Managers”, Pensions & Investments, October 4, 2021.
2 Major real estate investors have registered with the SEC in November 1999. Activities noted prior to this date began with the real estate investment management area of Principal Life Insurance Company and later Principal Capital Real Estate Investors, LLC, the predecessor company to Principal Real Estate Investors.
SOURCE Lincoln Rackhouse