Lincoln Property Company Acquires Operational Data Center in Atlanta Metro

Lincoln Property Company (“Lincoln”), a global full-service real estate firm, acquired a fully operational data center in Alpharetta, Ga. The facility, which was acquired with customers in-place, has immediate capacity for additional leasing. Lincoln has an established presence in the broader Atlanta market, where it now owns and operates three facilities and has recently leased over 20 megawatts (MW) to customers in the region.

With this acquisition, Lincoln continues its strategy initiated several years ago to bring new value to underutilized data center assets across the United States. The firm has been successful in converting enterprise data center assets to higher-density, multi-tenant uses in markets that include Dallas, Atlanta, Washington D.C., Phoenix, and Chicago.

“Georgia, like many other established data center markets, has extremely limited data center inventory and significant demand for more capacity right now. Our strategy with this acquisition was to acquire an asset with in-place cash flow and near-term expansion capability, allowing us to deliver core market infill capacity quickly, catering to the backlog of demand in the region,” said Ryan Sullivan, Executive Vice President of Lincoln’s Data Center Group. “Part of a broader national strategy, Lincoln plans to acquire more underutilized data center assets, along with larger development opportunities and industrial conversions across the country.”

The site has 7.2MW available for lease immediately, with planned expansion of an additional 30MW of data center capacity. For leasing inquires, connect with Alexa Nolan: anolan@lpc.com

“Atlanta is the fourth largest data center market in the U.S. by capacity and is poised for growth,” shared Ms. Nolan. “Experts believe that Atlanta’s data center market will grow by nearly 30% over the next four years, a growth rate that would surpass all other primary U.S. data center markets. We have already seen this projected surge in leasing – in the first half of 2024, Atlanta posted a record-high 820MW of leasing volume. We believe that this new acquisition will help us capitalize on this growth and capture current and future demand in this sector.”

CBRE Data Center Capital Markets exclusively represented the seller in the transaction.

About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 562 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 164 million square feet of development since its inception in 1965 and has another $19.5 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.