Carter Validus Mission Critical REIT II, Inc. (“CV Mission Critical REIT II”) completed the acquisition of the Tempe Data Center property on January 26, 2017, for $16,174,950.
This mission-critical network intensive data center facility is 44,244 rentable sq ft and is located in the heart of Metropolitan Phoenix in Tempe, AZ. 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 sq ft of white space, 8,711 sq ft of office space, and 20,533 sq ft 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-sq-ft 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.