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StratCap closes acquisition of Jacksonville data centre

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StratCap’s data centre real estate division, StratCap Data Centers, has completed the acquisition of a triple net leased data centre in Jacksonville, Florida.

The acquisition comes in response to the fact that Jacksonville, Florida is a location with growing demand for data centre space.

“This was an off-market, relationship-driven opportunity to invest in a mission critical asset with a high-quality tenant and nearly 16 years of lease term remaining,” said Bryan Marsh, CEO of StratCap Data Centers.

“We think the property is a perfect fit for our overall investment strategy and adds significant value to our overall portfolio.”

The 25,600 square foot facility is fully leased to a major telecom carriers and serves as one of the StratCap’s wireless communications switching centres. The site also includes a cell tower and acts as a hub for routing voice calls and text messages for the tenant’s customers in the surrounding region.

The existing lease for the site started in 2002 and was recently extended to 2038. The tenant has also invested 'significant' capital to upgrade the building to serve its technical operations and expand its 5G wireless coverage.

In related news, earlier this year StratCap's data centre real estate investment platform, Strategic Datasphere, acquired a 187,000 square foot facility with a high-density data centre, banking operations centre and flex/R&D space in Cleveland, Ohio.

Located 5 minutes from the Cleveland Hopkins International Airport and 15 minutes from downtown Cleveland, this facility benefits from robust fibre connectivity from over seven providers

“We believe the existing 3 MW data centre is unique in the local market and will be appealing to technology and financial services firms that run high-density compute applications," said Marsh.

"The ability to convert underutilized space into operational data halls also creates an attractive value-add opportunity for this asset. In addition, the current lease structure provides us with what we believe are long-term, predictable rental revenues."

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