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Tempe, Arizona, data center trades for $16M

2.17.2017

 

Carter Validus Mission Critical REIT II, a non-traded real estate investment trust focused on acquiring data center and healthcare real estate investments, acquired the Tempe Data Center, in Tempe, Arizona, for $16,174,950.

 

This mission-critical network intensive data center facility is 44,244 rentable square feet and is located in the heart of Metropolitan Phoenix in Tempe, Arizona.

 

With redundant power feeds, this asset is located immediately adjacent to the “fiber highway” that runs along Interstate 10, and is minutes from Phoenix Sky Harbor International Airport, downtown Phoenix and downtown Tempe.

 

Since 1997, the Tempe Data Center has been 100% leased 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.

 

Comprised of 15,000 square feet of white space, 8,711 square feet of office space, and 20,533 square feet of warehouse space, the building is of concrete and steel frame construction with a glass façade surrounding the office portion and includes a 4,355-square-foot mezzanine level.

 

“We believe the Tempe Data Center’s premier location, high fiber connectivity, tenant quality, lease solidity and the critical nature of its operations make it an ideal investment for our portfolio,” said John E. Carter, Chief Executive Officer of CV Mission Critical REIT II.

 

“We are extremely pleased to have acquired this well-tenanted mission critical asset located in a key data center market to further broaden and enhance our real estate portfolio. We believe that acquiring high-quality assets like this allows us to deliver on our promise to continuously diversify our investments and add value for our stockholders,” said Michael A. Seton, President of CV Mission Critical REIT II.

 

Carter Validus Mission Critical REIT II, Inc. is a public, non-traded company headquartered in Tampa, Florida that has elected to be taxed, and believes it qualifies, as a real estate investment trust. Carter Validus Mission Critical REIT II, Inc. intends to acquire mission critical real estate assets located throughout the United States and abroad.

 

Mission critical real estate assets are purpose-built facilities designed to support the most essential operations of tenants. Carter Validus Mission Critical REIT II, Inc. intends to focus its acquisitions on mission critical assets in the data center and healthcare sectors.

 

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