Marlborough, MA On behalf of Deutsche Bank, JLL’s capital markets experts completed the sale of 34 St. Martin Dr., a 203,840 s/f mission-critical data center. Lincoln Property Company purchased the asset.
Managing directors Frank Petz, Chris Angelone and Jessica Hughes, vice president Matthew Sherry, and associate George Gregory led the JLL team.
Petz said, “With increasing demand for data center space in this market, 34 St. Martin Dr. presents investors with a unique opportunity. This fully occupied property offers an attractive and stable cash flow, while future upside is also available in marketing rents to a level comparable with other nearby data center facilities.”
Located off I-495 and close to the Mass Pike, 34 St. Martin Dr. is currently 100% leased to 9 tenants, anchored by data center users Tierpoint and Lightower. This facility has all the necessary mission-critical infrastructures, such as enhanced fire protection, environmental control, security, electrical power, and technology infrastructure.
Uniquely situated near critical fiber networks and utility infrastructure, 34 St. Martin Drive is an ideal data center location.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
JLL is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
