Mission-critical facility occupied by institutional tenant

Phoenix, April 17, 2017 – Colliers International in Greater Phoenix completed the sale of the OneNeck IT Solutions data center at 1655 Sunrise Boulevard in Gilbert, Arizona. Mindy Korth, Kirk Kuller, Michael Ortiz and Scott German of Colliers represented the seller and negotiated the sale.

ArroyoBel Asset Advisors LLC purchased this mission-critical facility from a private investor, who had owned it for 14 years. This is ArroyoBel’s second acquisition in the Phoenix market in the last six months, having also recently purchased Thunderbird Palms Medical Campus.

“This asset offers an attractive combination of an appealing in-fill location, a high-quality building and a very stable 19-year occupancy history with a strong institutional tenant,” said Korth, executive vice president with Colliers. “The buyer recognized the solid income potential and the positive outlook for data centers and the growing technology sector within the greater Phoenix marketplace.”

ArroyoBel, represented by its two principals, Chuck Bruni and Neal Smaler, is focused on the acquisition of medical properties, as well as single-tenant net lease facilities, especially those with heavy data and technology infrastructure.

The 14,168-square-foot, Tier 2 data center was purpose-built in 1998 by OneNeck IT Solutions, a hybrid IT solutions provider for mid-market and enterprise companies, which was later acquired by Telephone and Data Systems, Inc., a Fortune 500 company. It serves as one of two OneNeck data centers in Arizona.

About Colliers International Group
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry-leading global real estate services company with 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.

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Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.