VA REIT BUYS FISERV BUILDING

Gladstone Commercial Corp, a McLean, Va.-based REIT, recently paid Adveco Corp almost $11M for the 60k SF Fiserv data center in Hickory. The 3-year-old building at 2415 Century Place SE was delivered as a built-to-suit for Fiserv in June 2008. The Brookfield, Wis.-based IT services company, sources tell us, has about nine years remaining on its lease with options to renew for up to another 10 years. No brokers were involved. (We swear, officer.) Data centers have become hot properties for investors in the wake of the dot-com bust of the early 2000s, says Tier 1 Research?s Antonio Piraino. The demand then (as now) is the wholesale shift toward using the Internet for business and entertainment, which generates enormous volumes of data. But, Antonio adds, the main difference is that the buildings trading now are occupied. (And not by sock puppet dogs.)

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Charlotte Newsletters
Related Stories

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

America's War Machine Is Growing, Sparking A Defense Real Estate Boom

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers

CBRE Posts 16% Revenue Growth In Q2 As Data Center Business Shines

How Metropolis Is Bringing Parking Into The Future With AI And Recognition Technology

While Chicago Development Stalls, Fulton Market Keeps Building