A Florida-based investment firm purchased a Tempe data center from a Scottsdale-based development company for $16,400,000, according to Colliers International.
The data center includes 44,244 rentable square feet and was 100 percent leased at the time of the sale.
Korth and Kirk Kuller of Colliers International in Greater Phoenix and Luke Denmon of CBRE handled the sale and lease transactions on behalf of the seller, El Dorado Holdings Inc.
Carter Validus Mission Critical REIT II Inc. purchased the property.
The data center is located on a 4.2-acre parcel with an enclosed equipment yard and redundant power feeds. Since 1997, the entire facility has been leased out to a national provider of wireless voice, messaging and data services.
The enterprise shell data center was built in 1977 and substantially remodeled in 1983, 2008, and 2011.
“The investment provides this non-traded real estate investment trust a fully stabilized property with a long-term institutional quality tenant to add to their growing portfolio,” says Mindy Korth, executive vice president with Colliers International in Greater Phoenix. “The property is uniquely positioned adjacent to the ‘fiber highway’ of Greater Phoenix and there are very few options for future development in the surrounding area.”
