Florida REIT purchases fully leased data center in Tempe

Phoenix, February 21, 2017 – Colliers International in Greater Phoenix negotiated the sale of a data center property in Tempe, Arizona, for $16.4 million, or $317 per square foot.

Carter Validus Mission Critical REIT II, Inc. of Tampa, Florida, purchased the property from El Dorado Holdings, Inc. of Scottsdale, Arizona, a real estate investment, planning, and development company.

This mission-critical network intensive data center facility is 44,244 rentable square feet on a 4.2-acre parcel, which includes a generous enclosed equipment yard and redundant power feeds. It is located in the heart of metropolitan Phoenix, with convenient access to Interstate 10, State Route 143, State Route 60 and Phoenix Sky Harbor International Airport.

This asset has been 100-percent leased since 1997, 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.

Mindy Korth and Kirk Kuller of Colliers and Luke Denmon of CBRE handled the sale and lease transactions on behalf of the seller, El Dorado Holdings, Inc.

“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,” said Korth. “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.”

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