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Hines Global REIT II Acquires Cottonwood Corporate Center

Hines, the international real estate firm, announced today that Hines Global REIT II, Inc. has acquired Cottonwood Corporate Center located in the Salt Lake City submarket of Cottonwood, Utah.

The Class A four-building campus was built between 1997 and 2000 and consists of 490,030 square feet. The complex, designed by Giles Stransky Brems Smith, includes:

2855 East Cottonwood Parkway, which contains five stories, 108,938 square feet and was completed in 1997.

2825 East Cottonwood Parkway, which contains five stories, 109,365 square feet and was completed in 1998.

2795 East Cottonwood Parkway, which contains six stories, 135,167 square feet and was completed in 1999.

2755 East Cottonwood Parkway, which contains six stories, 136,560 square feet and was completed in 2000.

The property is 91 percent leased to 25 tenants including Western Digital, a global storage technology and solutions company that leases approximately 31 percent of the of the net rentable area; and Extra Space Storage, a real estate investment trust that leases approximately 15 percent of the net rentable area.

The seller was NOP Cottonwood Holdings, which was represented in the transaction by CBRE. The acquisition of Cottonwood Corporate Center is Hines Global REIT II’s fourth investment.

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