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5/27/15
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In a Phoenix investment deal, Griffin Capital Essential Asset REIT II Inc purchased a 300k sf, data center building and a 213.4k sf, four-story office building that are leased to American Express Travel Related Services Company Inc. The price was $91.5 mil, or $429/sf.
The property is situated on a 28.54-acre site located at 3151 and 3202 West Behrend Drive, and is part of the American Express Beardsley Campus, which was originally developed as a build-to-suit for the tenant in the 1980s. The company is a subsidiary of American Express Company which is ranked #90 on the 2014 Fortune 500 list and a Dow Jones Industrial Average component company.
The seller, American Realty Advisors, was represented by Jim Fijan and Chad Freese in the Phoenix office of CBRE.
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