Lincoln Re-Purchases Arizona Data Center

Real estate firm Lincoln has re-acquired a data center in Phoenix, Arizona at 2500 W. Frye Road in Chandler. Located on 14.5 acres, the 191,000-sq ft (17,740 sqm), 28MW facility features four data center halls, one of which is fully leased to a Fortune 500 enterprise user.

“We are grateful to the City of Chandler and CBRE for their collaboration as we approached the closing of this acquisition,” said Lincoln Property Company EVP and national data center group leader, Ryan Sullivan. “Arizona’s unprecedented, immediate demand from hyperscale, enterprise, and neocloud users has pushed local data center vacancy to record lows. This facility will add critical turnkey capacity with immediately available utility power. It’s a rare combination that we look forward to delivering as part of our ongoing value-add data center strategy.”

“We originally purchased and managed this facility to achieve its highest and best use,” added Lincoln Property Company senior EVP, David Krumwiede. “When we sold the asset, it was to an entity that was equally committed to preserving and enhancing its value. Now, it is our turn to set yet another performance bar for tenants and the Chandler market, at a time when the need for responsible data center space couldn’t be higher.”