The Los Angeles and San Francisco offices of HFF (Holliday Fenoglio Fowler, L.P.) announced today that they have closed the sale of Bayshore Data Center, a two-building, fully-leased, 185,000-square-foot data center facility in Santa Clara, California.
Bryan Ley and John Crump of HFF's Los Angeles office and Gerry Rohm and Zane Sweet of HFF's San Francisco office marketed the property exclusively on behalf of the seller, Inland Western REIT. Digital Realty Trust, Inc. purchased Bayshore Data Center for $90.52 million.
"This best-in-class data center attracted tremendous interest with its in-place assumable debt, growing demand for the product type, and terrific location in Santa Clara," said Rohm.
"We are very excited to add this property to our portfolio of income producing assets. The HFF representatives were extremely professional and knowledgeable regarding data centers," commented Scott Peterson, senior vice president of acquisitions for Digital Realty Trust, Inc.
Bayshore Data Center consists of a 160,000-square-foot building at 1350 Duane Avenue and a 25,000-square-foot building at 3080 Raymond Street. The properties are fully leased to tenants including Sprint Communications, Equinix and Layer42.Net. Situated on 5.6 acres, Bayshore Data Center is adjacent to Silicon Valley Power and U.S. Highway 101 in the Santa Clara data center cluster in Silicon Valley.
"Demand for data centers such as Bayshore continues to outpace supply by a margin of two to one. There is limited new supply in the data center cluster coming online in the next three years due to a lack of construction financing, which will continue to drive up rents for data center services," said Rohm.
Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States. As of September 30, 2009, the portfolio under management totaled in excess of 49 million square feet, consisting of 299 wholly owned properties and 2 consolidated joint venture properties. The company also has interests in 12 unconsolidated properties and 14 properties in 7 development joint ventures. For further information, please see the company website at www.inlandwestern.com.
HFF (NYSE:HF) operates out of 17 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, structured finance, private equity, loan sales and commercial loan servicing. www.hfflp.com.
Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.
Contacts:
Holliday Fenoglio Fowler, L.P.
BRYAN LEY
HFF
Director, 310-407-2100
CA Lic. #01458927
bley@hfflp.com
GERRY
ROHM, 415-276-6935
HFF Senior Managing Director
CA Lic.
#01367742
grohm@hfflp.com
KRISTEN
MURPHY, 713-852-3500
HFF Associate Director, Marketing
krmurphy@hfflp.com
