Mission-Critical Real estate investment trust Carter Validus has finalized yet another data center purchase, picking up a $16 million facility located in Tempe Arizona, from an unnamed owner [Update: The previous owner has been confirmed as El Dorado Holdings].
The 40,000 square feet (approx. 3,700 sq m) building is currently being used by a large telco. It includes 15,000 sq ft of white space, 8,711 sq ft of office space, and 20,533 sq ft of warehouse space.
Here, there and everywhere
Built in 1977 and subsequently remodeled in 1983, 2008 and 2011, it is situated next to the long haul fiber-optic highway which traces Phoenix’s Interstate 10. The facility has been fully leased since 1997 by a national provider of wireless voice, messaging, and data services.
“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, CEO of CV Mission Critical REIT II.
Originally founded in 2013, replacing its predecessor Carter Validus Mission Critical REIT, CVMC REIT II specializes in the acquisition of data center and healthcare facilities and has built itself a hefty data center portfolio in recent years, having bought facilities in Massachusetts, Georgia, Michigan, Tennessee, New Jersey, California, Illinois and Virginia.