Aphorio Carter has acquired a fully leased data center property in Collierville, Tennessee, for about $13 million, furthering its presence in the growing data center segment.
Situated on the 118-acre FedEx World Technology Center Campus in a suburb of the Memphis metropolitan area, the property is a corporate data processing facility. Spanning 4.62 acres, the facility boasts over 86,000 square feet of space, including 41,000 square-foot raised floor area.
Built in 2001, the data center is 100% net leased to a globally recognized logistics powerhouse company.
This acquisition marks Aphorio Carter's fifth critical infrastructure real estate investment within the last 16 months, aligning with the company's strategy to acquire mission-critical, technology-related real estate.
The company’s move reflects the continual momentum around data centers that power AI and digital technologies.
"We are enthusiastic to incorporate this property into our portfolio, offering strategic opportunities as nationwide demand for data centers grows. In the first half of 2023, CBRE reported that vacancy rates for North American data centers stayed exceptionally low, hovering around a historic record of 3.3%," said John Regan, chief investment officer of Aphorio Carter. “AI technology and the digital landscape supported by data centers continues to evolve remarkably.”
Aphorio Carter continues to acquire data center properties actively. In October, the company acquired the Tucson Tech Data Center in Tucson, Arizona, for $13 million and plans to spend $8 million to improve the property. Tucson Tech Data Center is net leased to TECfusions, a data center development and operations entity and energy-efficient microgrid developer and operator.
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