Aphorio Carter Fund Management Company, a critical infrastructure and data centre division of Carter Funds, has announced that it has acquired the Tucson Tech Data Center in Tucson, Arizona for US$13M and is planning to spend US$8M in improvements to the property.
Tucson Tech Data Center is 100% net leased to TECfusions, a data centre development and operations entity and energy-efficient microgrid developer and operator. The acquisition marks the fourth data centre purchase for Aphorio Carter, an investment management company focused on acquiring high-growth digital and mission-critical infrastructure, data centres, switch sites and technology-related real estate throughout the US.
Tucson Tech Data Center is located 80 miles southeast of Phoenix, AZ, which stands as one of the largest data centre markets in the United States. In 2023, rental rates in this region have surged by 30% and spaces are being reserved up to two years before their availability. The proximity of the Tucson MSA allows operators to leverage the robustness of the Phoenix market, expanding their reach close to this pivotal data centre hub.
The Tucson Tech Data Center site includes a data centre building situated on eight-plus acres with 133,452 square feet currently consisting of 40,792 of raised floor and +/-6.562MW of critical power. Originally built in 1989, with data centre phases beginning in 2004, the property has a new 15-year absolute triple net lease with TECfusions.
“The Tucson Tech Data Center is a fantastic addition to our rapidly expanding portfolio due to its ideal location in the South West and sustainability measures,” said John Regan, Chief Investment Officer of Aphorio Carter. “The property’s focus on sustainable data centre construction, energy efficiency and renewable power sources helps lead the data centre industry toward sustainability. The demand for technology, digital storage, data transmission and added capacity at data centres that support our digital-driven world continues to grow rapidly and we are excited about the opportunity and value this data centre brings to our portfolio.”
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