San Diego Business Journal

AT&T Sells Miramar Data Center Building for $134.5 Million

By Lou Hirsh Sunday, December 29, 2013
Photo courtesy of CoStar Group

Photo courtesy of CoStar Group

A Florida-based real estate investment trust has purchased a Miramar office building housing an AT&T data center for $134.5 million, in a sale-leaseback transaction.

The buyer of the property, at 7337 Trade St., was Carter Validus Mission Critical REIT Inc. of Tampa, Fla., according to CoStar Group and public data.

The seller, New Jersey-based AT&T Inc., will stay and lease the 499,402-square-foot building for an initial term of 10 years, with rent for the first year set at just over $9.9 million, according to the REIT’s filing with the Securities and Exchange Commission.

The office building was constructed on approximately 17 acres in 1983. Brokerage services provider CBRE Inc. represented the seller in the transaction.