November 17, 2024 6:56 am
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REIT spends $125M to enter valley data center investment market

IO Data CenterBy Business Real Estate Weekly

Phoenix/Scottsdale – If the company was looking to establish a significant presence and achieve a critical mass in the Valley’s real estate investment market – mission accomplished! Carter Validus Mission Critical REIT in Tampa, Fla. (John Carter, CEO) paid a combined $125 million ($188.55 per foot blended average) to acquire two data centers in the Phoenix area totaling 663,000 sq. ft. The sellers in two sale-leaseback transactions were companies formed by IO Data Centers in Phoenix (George Slessman, CEO).

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