StratCap closes sale of Milwaukee data centre
StratCap Data Centres confirms the completion of the acquisition of a 28,500 square foot data centre in Franklin, Wisconsin.
The new facility is fully leased on a triple-net basis and is located 16 miles south of Milwaukee, with approximately 15 years remaining on the current lease term.
“We were able to diversify our portfolio in an off-market transaction with what we believe is an attractive asset acquired below appraised value, with a high-quality tenant, in a growing data centre market,” said Bryan Marsh, CEO of StratCap Data Centers.
“We think the relatively predictable rental revenue from the in-place, long-term lease and the continued geographic diversification of our assets will add value to our overall portfolio.”
The property was built in 2008 and is currently leased to Expedient, a multi-cloud and managed services provider that operates over 20 data centre locations and helps its clients transition to the cloud.
The data centre sits on 2.64 acres and currently has 1.2MW of critical load which can be expanded to 2.4MW by building out all existing shell space.
In related news, earlier this month StratCap Data Centers appointed Jake Wagner as senior vice president of acquisitions.
In his new role, Wagner will play an important part in implementing the company’s growth strategy, procuring new investment opportunities, assisting with debt placement and integrating new assets into its portfolio.
Last month, the company 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.