SAVVIS Gains $36.8 Million in Sale Leaseback of Fort Worth Data Center

CoStar Group - August 3, 2006

SAVVIS Communications Corp. purchased the building at 14901 FAA Blvd. in Fort Worth, TX from Digital Realty Trust for $13.8 million, or approximately $50.50 per square foot. The next day, it sold the building and all of the equipment to Digital Realty Trust for $50.6 million or $184.34 per foot.

Built in 2001, the 274,500-square-foot facility houses a data center for SAVVIS. The property was sold back to Digital on a sale/leaseback agreement for 15 years at $4.3 million per year (8.5% cap rate). The lease provides three five-year renewal options. Sphere: Related Content