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AT&T sale and leaseback on Trade

The 499,402-square-foot AT&T (NYSE: T) facility in the Miramar submarket at 7337 Trade St., San Diego 92121, has been sold for $134.5 million.

The buyer was DC-7337 Trade Street LLC, with Carter/Validus Operating Partnership LP as its sole member. Carter/Validus Mission Critical REIT Inc., with John E. Carter as CEO, is the general partner of Carter/Validus Operating.

The seller of the property (assessor's parcel 343-062-09) was Pacific Bell Telephone Company.

Louay Alsadek and Evan August -- of the San Diego office of CBRE (NYSE: CBG) -- and Kevin Shannon and Todd Tydlaska, of CBRE's El Segundo office, represented the seller.

The five-story data center was constructed in 1983 on a 16.86-acre lot. The transaction also involved a 10-year leaseback to the seller, subject to renewal options of five years each. The first year's rent is $9,944,100, and escalates at approximately 3 percent a year.

The 499,402-square-foot AT&T facility in the Miramar submarket at 7337 Trade St., San Diego 92121, has been sold for $134.5 million. Photo courtesy of CoStar Group

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