(Disclosure: Rose Law Group represents Aligned Data Centers.)
SanTan Sun News Staff
A Texas data center company has shelled out $115 million for a nearly half-million-square-foot office building in the Continuum business park in Chandler
Aligned Adaptive Data Centers bought the 456,122-square-foot building at 2501 S. Price Road near Dobson Road as part of an effort to expand its Phoenix Metro footprint with two “mega campuses.”
Valley real estate tracker vizzda.com reported that 27-year-old building sites on 26 acres and that the sale also includes an 11,085-square-foot storage warehouse built in 1975 and another 17-acre parking lot.
The sale price represented a per-square-foot price of $252 and that no debt was recorded with the purchase from Southwest Value Partners, vizzda said.
Southwest Value Partners is a real estate development firm co-founded by Robert Sarver, the controversial owner of the Phoenix Suns basketball team.
Sarver’s firm owns the 152-acre Continuum, which was a Motorola research site that was sold in 2009 to an Austin, Texas real estate investment firm that began transforming the property into a technology park with the backing of Chandler development officials, who felt it was not being used to its full potential.