A West Coast firm expanding in Philadelphia has acquired a Navy Yard data center for $16.3 million. Landmark Dividend, an El Segundo, California-based investment firm, purchased the 28,083-square-foot property at 4775 League Island Blvd. from Prologis, which acquired it through its 2020 purchase of Liberty Property Trust. The building is fully leased to TierPoint, a St. Louis-based IT company. Karlton Holston, Landmark’s EVP of data centers, highlighted the facility’s potential to add capacity and value. Landmark specializes in data centers, cell tower ground leases, and billboards, with over 6,800 transactions worth $4.5 billion since 1985. Holston noted the strong demand in the data center market.
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