Holliday Fenoglio Fowler, L.P. (HFF) announces the $15 million sale and $9 million financing of 15 Shattuck Road, a 92,700-square-foot data center located in Andover, one of Boston’s primary technology- and healthcare-oriented suburbs. At the time of sale, the asset was 100 percent leased to Tierpoint, a leading national provider of information technology and data center services, including colocation, cloud computing, disaster recovery and managed IT services.

The HFF team arranged the sale of the property on behalf of Carter Validus Mission Critical REIT I and procured the buyer, Menlo Equities. Additionally, HFF arranged the financing through Berkshire Bank.

15 Shattuck Road is in Andover, close to several large corporate users and office parks. The considerable infrastructure and high replacement cost made this asset hotly contested in a world where data continues to grow at unprecedented rates and storage thereof has become more and more difficult to supply.

The HFF investment advisory team representing the seller included Coleman Benedict, Ben Sayles and Kerry Hawkins.

HFF’s Jennifer Keller represented Menlo Equities in the arrangement of acquisition financing. The Berkshire Bank team included Doug MacLean and Christine Flaherty.

About Carter Validus Mission Critical REIT, Inc.

Carter Validus Mission Critical REIT, Inc. is a real estate investment trust that invests in mission critical real estate assets located throughout the United States. Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants.

About Menlo Equities

Founded in 1994 by Henry Bullock and Rick Holmstrom and headquartered in Menlo Park, California, Menlo Equities is a vertically integrated commercial real estate company engaged in the acquisition, development, and operation of properties in select United States innovation hub markets. Founders Bullock and Holmstrom continue to lead the firm today. Menlo Equities has acquired or developed approximately 110 properties, encompassing 17.6 million square feet of high profile office, R&D, data center, life science and infill-logistics commercial real estate. As of December 31, 2017, the total value of assets under management was approximately $1.7 billion.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.