(Ping! Zine Web Hosting Magazine) – Colocation provider Digital Realty Trust expanded its already notable presence in the Dallas, Texas area on Monday by announcing it had paid $123 million for an already operational 819 thousand square foot facility.
Digital Realty currently maintains over a dozen sites in the Dallas market. The new site is located in the Dallas suburb of Lewisville.
The new acquisition immediately gives the company eight tenants who already form presences at the site with long-term leases. However, Digital Realty Trust isn’t stopping there. 39 acres of the property will allow for expansion, which Digital Realty intends to fully develop.
“This acquisition will immediately contribute stabilized cash flow to our portfolio from the existing long-term leases, while providing a wide range of future development and potential redevelopment opportunities,” stated Digital Realty CEO Michael F. Foust in a press release regarding the matter.
IT capacity at the site amounts for 16.5 megawatts thanks to energy supplier Texas New Mexico Power. Meanwhile, the company is hoping for a big return in its investment with Digital Realty Chief Acquisitions Officer Scott Peterson saying, “With the availability of developable land and increased power from the expanding substation, we believe this investment has considerable upside potential.”
The acquisition of the property by Digital Realty follows an announcement earlier this month in which the company revealed that it would be partnering with Equinix and Carpathia Hosting to build a data center in Ashburn, Virginia.
Digital Realty Trust is one of the world’s largest data center solutions providers. The company operates various facilities in global markets including North America, Europe and the Asia Pacific.