National Commercial Real Estate News From CoStar Group
Carter Validus REIT Acquires $65M Data Center
Carter Validus Mission Critical REIT, Inc. has acquired the 6 Sigma Center data center at 2000 Kubach Rd. in Philadelphia, PA from CSX Corporation for $65 million, or about $537 per square foot.
The two-story, 121,000-square-foot flex property was built in 1993 on 14 acres in the Greater Northeast Industrial submarket. It was designed specifically to house data center equipment and built to stringent reliability and security standards, which allows...
Live From REITWorld: Pace of Mergers and IPOs Likely to Accelerate in 2013
For all the election season bickering over the pace of the economic recovery during the last four years, this year’s gathering of REIT executives was a decidedly happier and more agreeable place than in 2008 when the REIT industry trade show last met in San Diego.
Back then, attendees were agonizing over whether real estate investment trusts could even survive, let alone thrive, amid the frozen credit flows, plunging stock prices and near collapse...