Lincoln Rackhouse has sold T-Mobile’s Everglades MSO data center in the Fort Lauderdale area of Miami, Florida, for $26 million.
BizJournal reports that the buyer, USPP Sunrise DC LLC – reportedly part of a real estate investment trust (REIT) managed by Principal Real Estate Investors – bought the facility from LPCH Florida Equities LLC, which is part of the Lincoln Rackhouse data center division of Dallas-based Lincoln Property Co.
Lincoln developed a 35,000 square foot (3,251 sq m) build-to-suit data center on the 4.34-acre site in Sunrise in 2018 as part of a sale-leaseback agreement with T-Mobile.
The US telco has a 20-year lease on the facility with renewal options. This is the first time the property has been sold since it was developed into a data center.
Lincoln Rackhouse owns a portfolio of data centers totaling more than 2 million sq ft (186,000 sqm) across the US and UK. Earlier this year Lincoln partnered with data center firm Ascent to combine data center facilities management operations.
Last year Avignon Capital acquired T-Mobile's 80,000 sq ft (7,450 sq m) data center in Amsterdam, the Netherlands, for €11.55 million ($12.7m), with the telco continuing to lease the facility from the asset management firm.