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Digital Realty Trust bought two Californian data centers, one at 444 Toyama Drive, in Sunnyvale and one at 1525 Comstock Street located in Santa Clara which it took over ownership from a joint venture partner.
The Sunnyvale site is a two-story facility with approximately 42,000 rentable square feet, including 32,000 square feet of raised floor space. It is 100 percent leased through mid 2022 on a triple net basis to a leading provider of network neutral data center and Internet exchange services.
The ownership interest was taken in a Santa Clara site which totals approximately 42,000 sq ft, including 29,000 square feet of raised floor space.
The properties were acquired for a total purchase price of approximately $44.3 million.
"An important part of our strategy is to acquire income-producing assets at attractive yields as a compliment to our redevelopment program. Our acquisitions team continues to demonstrate its ability to source and capitalize on these opportunities, such as theToyama Drive property, where we acquired a long-term, secure income stream at an accretive yield," commented Scott Peterson, Senior Vice President of Acquisitions for Digital Realty Trust.
"Additionally, the purchase of the ownership interest from our joint venture partner in the 1525 Comstock Street property is consistent with our strategy of remaining the long term owner and operator of the Turn-Key Datacenter facilities that we develop."
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