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Digital Realty Acquires Delta's Data Ctr for $37M

Airline Inks Sale Leaseback in Minneapolis Suburb
April 8, 2013
Digital Realty Trust, Inc. (NYSE: DLR) has acquired Delta Air Lines' data center at 1500 Towerview Rd. in Eagan, MN for $37 million, or about $112 per square foot. Delta Air Lines has leased back the property from the new owner under an eight-year, triple-net deal.

The three-story, 329,000-square-foot facility was constructed in 1982 as an industrial flex building on 39 acres in the South Central Industrial submarket of Dakota County. It includes 86,000 square feet of raised-floor telecom and data hosting space that can handle an IT load of 8.0 megawatts.

DLR will manage the property going forward while supporting the tenant's critical operations and possible future data center requirements, allowing Delta to focus on other business areas while capitalizing on the monetization of this real estate asset.

"The acquisition of Towerview further expands our footprint in a key U.S. market and deepens our relationship with an existing customer - a major commercial airline with an extensive domestic and international network," said Michael F. Foust, chief executive officer of Digital Realty.

Please see CoStar COMPS #2709072 for additional information on this transaction.
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