Carter Validus Mission Critical REIT II Buys Arizona Data Center Property

Carter Validus Mission Critical REIT II Inc., a publicly registered non-traded real estate investment trust, purchased a 44,000-square-foot data center facility in Tempe, Arizona for $16.2 million.

Since 1997, the Tempe Data Center has been 100 percent leased to a national provider of wireless voice, messaging, and data services. The shell data center was built in 1977 and remodeled in 1983, 2008, and 2011. The asset is located adjacent to the “fiber highway” that runs along Interstate 10, and is minutes from Phoenix Sky Harbor International Airport, downtown Phoenix and downtown Tempe.

“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 Carter, chief executive officer of CV Mission Critical REIT II.

Carter Validus Mission Critical REIT II, which went effective in May 2014, focuses on net leased healthcare real estate and data center properties. As of January 2, 2017, the company has raised $819.3 million in investor equity from the sale of class A and class T shares. The REIT’s portfolio is comprised of 47 properties (35 healthcare and 12 data centers) purchased for approximately $890 million.

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