Aphorio Carter acquires Tucson Tech Data Center for $13m, plans $8m in upgrades
Aphorio Carter Fund Management Company, LLC, a branch of Carter Funds, has finalized the acquisition of the Tucson Tech Data Center in Tucson, Arizona, at a deal value of $13 million. Furthermore, there’s an additional $8 million earmarked for infrastructure improvements, reinforcing their commitment to expanding their digital infrastructure portfolio.
Proximity to Phoenix Data Center Hub: A Strategic Advantage
Geographically, the Tucson Tech Data Center boasts a strategic location, situated a mere 80 miles southeast of Phoenix, Arizona. Phoenix is recognized as a primary data center market in the US, witnessing a whopping 30% surge in rental rates in 2023. Data center spaces in this hub are reserved as far ahead as two years prior to becoming available. Tucson Tech Data Center’s proximity allows it to tap into the vitality of the Phoenix market, offering an expanded reach close to this central data center nexus.
A Look at Tucson Tech Data Center’s Infrastructure
Encompassing an expansive 133,452 square feet, the Tucson Tech Data Center resides on an 8-acre property. Of this space, 40,792 square feet comprises raised floor, powered by approximately 6.562MW of critical energy. Tracing its origins back to 1989, the facility underwent phases of data center transformation starting in 2004. The property’s tenancy is secured with a 15-year absolute triple net lease by TECfusions.
Sustainability at the Forefront
Sustainability forms a key cornerstone for the Tucson Tech Data Center, a facet that aligns with Aphorio Carter’s vision. The facility’s commitment to energy-efficient measures, sustainable data center builds, and leveraging renewable energy sources charts a progressive path for the data center industry.
John Regan, Aphorio Carter’s chief investment officer, weighed in on the acquisition, saying: “The Tucson Tech Data Center is a fantastic addition to our rapidly expanding portfolio due to its ideal location in the southwest and sustainability measures. The property’s focus on sustainable data center construction, energy efficiency, and renewable power sources helps lead the data center industry toward sustainability. The demand for technology, digital storage, data transmission, and added capacity at data centers that support our digital-driven world continues to grow rapidly and we are excited about the opportunity and value this data center brings to our portfolio.”