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Lincoln Property Sells Marlborough Data Center for $33M

Jul 24, 2019 | Reprints | Print

A data center and flex property at 34 St. Martin Drive in Marlborough has been acquired by a California investor for $33.25 million.

Menlo Equities purchased the 206,000-square-foot facility from Lincoln Property Co.

The facility was 95 percent leased, with data center tenants TierPoint and Crown Castle representing 85 percent of the rentable square footage.

JLL’s Frank Petz, Matt Sherry and Tom Ragno represented the seller.

“Lincoln transformed this asset from commodity multi-tenant flex space to an institutional quality data center asset over the course of their ownership. They envisioned this transformation when they acquired the property, and that vision has been validated with a savvy player in the data center world stepping up to win this deal,” Petz said in a statement.

B&T Daily