SALE AND LEASEBACK DEAL ON HILLSBORO 3
Data center, colocation and connectivity provider Flexential, has just entered into a sale and leaseback transaction with Legacy Investing, LLC for the development of its latest data center in Hillsboro, Oregon.
The development of Flexential’s Hillsboro 3 data center was initiated with the ground-breaking event in October 2020. Marking the company’s third data center in Hillsboro, the facility is designed to span a total of 358,000 square feet and expected to feature up to 36MW of IT load capacity, offering a power density of 1,500 watts per square foot.
“We are proud to be partnering with Legacy Investing on our new, cutting edge Hillsboro data center,” said Chris Downie, CEO of Flexential.
“The completion of this facility will cement Flexential as a clear leader in this rapidly growing market, and the enthusiastic support of Legacy and its investment partner, Invesco Real Estate, a global real estate investment manager, speak to the value of the Flexential brand and its Hillsboro franchise.”
According to Flexential, the continued demand in Hillsboro market has driven a significant need for data center space and services, and the new partnership with Legacy is expected to allow both parties to quickly deploy capital in delivering the Hillsboro 3 data center to the market.
“Flexential’s already-dominant position in Hillsboro and the overwhelming demand for their offerings in this market made partnering with them a clear choice for us. We are excited about the opportunity this partnership creates for both parties and look forward to seeing this ultramodern data center come to life,” said Jay Rappaport, CEO of Legacy Investing.
The Flexential Hillsboro 3 data center is also designed to leverage the cooling efficiency in the region with zero water usage and run on 100% renewable energy.
Kristina Metzger, the leader of CBRE’s Data Center Capital Markets served as lead advisor to Flexential in this sale and leaseback transaction, and Paige Morgan of CBRE’s Portland Office provided local support.