Telefonica sold its Doral data center for $44M

The property sold for $288 psf

TRD MIAMI /
Jan.January 14, 2020 02:30 PM
11300 Northwest 25 Street and Telefonica CEO José María Álvarez-Pallete López (Credit: Google Maps) 

11300 Northwest 25 Street and Telefonica CEO José María Álvarez-Pallete López (Credit: Google Maps)

Telefonica sold its data center in Doral for $44 million, amid booming demand for such real estate.

Telefonica sold the 153,000-square-foot property at 11300 Northwest 25th Street for $288 per square foot, records show. Daytona US Partnership LP, which lists its address in Madrid, Spain, bought the property.

Telefonica is a Spanish multinational telecommunications company, also headquartered in Madrid. The company’ largest commercial presence in the United States is in Miami, where it operates the data center that provides cloud and security services, according to its website.

The building was constructed in 2001, records show. It sits on a 4.3-acre lot. The property was last purchased for $24.6 million in 2004. The South Florida Business Journal first reported the news.

Interest for data center real estate is growing due to the increasing demand for data storage and driverless vehicles, artificial intelligence and other technological advances that require more power supply.

Investors are betting on this new demand. In 2018, an affiliate of Brookfield Asset Management agreed to buy a data center portfolio from AT&T Communications for $1.1 billion. Last year, Google announced it plans to spend more than $13 billion in data centers and offices across the U.S.


Related Articles

arrow_forward_ios
Jack Owoc and a South Florida Distribution Center Building (Credit: Core5)

Bang: Energy drink company drops $40M on warehouse

Doral Commons, Adam H. Klein, and Douglas K. Mandel

Former Shoma headquarters goes for $13M

From left: MiamiCentral, 800 Brickell, Offices at Doral Square

Here are South Florida’s largest office sales of 2019

Rendering of Doral Square and David Martin

Terra unveils latest mixed-use project near Downtown Doral

This vitamin maker sells off Pompano Beach warehouse after layoffs

This vitamin maker sells off Pompano Beach warehouse after layoffs

Steven E. McCraney, President & CEO McCraney Property Company with the land

McCraney, partner pick up land in tight Boca Raton industrial market

Panattoni Development Company’s Carl Panattoni, Gratigny Logistics Park

Panattoni drops $24M to build new industrial project near Opa-locka

1000 Park Centre Boulevard, Joe Le Bas

Miami Gardens commercial site sells for $19M

arrow_forward_ios
Loading...