Stream Data Centers announced in mid-February that it had sold one of its Texas data centers to an unnamed organization. Tax filings suggest it is a Fortune 1000 financial services firm affiliated with TD Ameritrade.
The purpose-built facility, located in Richardson, offers 30,000 square feet of raised floor space and capacity for 7.2 MW of critical load. It is what Stream calls a private data center, a complex smaller than the company's single-tenant powered-shell offering that can be used as either a single or multi-tenant facility. Stream has a number of other similar projects underway in the state, including a Dallas data center, a Houston data center and a San Antonio data center, as well as facilities in Minneapolis and Denver.
Full terms of the acquisition were not made available, but Stream has been retained by the buyer to provide facilities management services for the Texas data center.
The Dallas-Fort Worth area, where the Texas data center is located, has been experiencing increased demand for computing space recently. Developers in the region are expected to double their construction efforts related to data centers this year, and 155,000 square feet of available space is currently under construction. It is estimated that another 592,000 square feet, or 80 MW of capacity, will be created in the near future.
The thriving insurance sector in North Texas is helping to drive expansion, accounting for about 35 percent of all new construction in the region. Banking and financial services are also responsible for a large portion of growth, making up 20 percent of market demand.
Brought to you by WiredRE, the nation's leading cloud, colocation, and data center advisory firm.
