(WEB HOST INDUSTRY REVIEW) — California State Automobile Association Inter-Insurance Bureau (www.csaa.com) announced on Wednesday it has sold its data center in Broomfield, Colorado to Columbia Industrial Properties Midwest for $12.85 million, according to a report by DailyCamera.
Located on 11525 Main Street, the Broomfield Corporate Center is fully leased by insurance firm TIAA-CREF, who has occupied the facility for the past three years and will continue its lease.
Riki Hashimoto, lead broker on the deal and senior vice president of Grubb & Ellis Co. said the terms of the lease could not be disclosed, but the insurance firm does “plan on staying there for awhile.”
Hashimoto was joined by Dan Grooters, Ed Suharsju and Seth McKinnon, who also represented the seller in the deal.
He added that the acquisition was valued at about $139 per square foot which is “a nice-size transaction for the marketplace,” and that the investors showed a “substantial amount of interest” in purchasing the data center.
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