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.”
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ and TSX: CIGI) is an industry leading global real estate services company with more than 16,000 skilled professionals operating in 66 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.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.
Colliers International in Greater Phoenix has served clients locally and globally for more than 35 years.