Lincoln Property's data center division has entered Atlanta with a Coke and a smile.

The subsidiary, called Rackhouse, has purchased The Coca-Cola Co.'s 88K SF data center at 40 Perimeter Center East in Central Perimeter for an undisclosed sum. Coke sold the property to Rackhouse and will continue to lease the facility through 2018. After that, it plans to migrate its IT and cloud services elsewhere.

Once gone, Rackhouse — with an unidentified joint partner advised by Bailard — will transform the data center into a co-location provider.

“As enterprise users migrate out of corporate-owned facilities to the cloud, in many cases they are leaving behind excellent real estate that can be repurposed, creating great investment opportunities,” Lincoln Executive Vice President Tony Bartlett said.