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 in the Deal of the Week.
The deal was the sale of the 499,402-square-foot AT&T (NYSE: T) facility in the Miramar submarket at 7337 Trade St., San Diego 92121, 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 the CEO, is the general partner of Carter/Validus Operating.
The seller of the property was Pacific Bell Telephone Company.
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.