ADDING 130,000 SQF TO ITS PLANO FACILITY
Data center colocation, cloud and connectivity services provider Flexential, has announced a new partnership with Legacy Investing and Invesco Real Estate to expand its Plano, Texas data center facility.
Through this leaseback agreement between Flexential and the two real estate firms, Flexential will more than double the capacity at its Plano data center, bringing the facility to span more than 260,000 square feet with the addition of about 130,000 square feet.
“Our continued partnership with Legacy Investing and Invesco Real Estate allows Flexential to expand at an even faster rate to meet heightened demand in hyper-growth markets such as Plano, Texas and Portland. We are committed to continued investment in the 38 highly connected data centers in our platform of hybrid IT infrastructure solutions and are pleased that this partnership is enabling us to realize quick and efficient growth,” said Chris Downie, Chief Executive officer of Flexential.
This agreement follows a recent sale-leaseback partnership with Legacy Investing and Invesco Real Estate announced in April 2021 for the development of Flexential’s Hillsboro 3 data center in Portland. According to Flexential, this partnership will help in meeting the growing demand for data center services in Plano and the broader Dallas market.
“We are pleased to continue our partnership with Flexential, a national market leader, to meet the massive and growing demand for data center services in the Dallas region. This mutually beneficial partnership is part of our broader focus on data center real estate and will allow Flexential to concentrate its capital on operations to maximize its returns,” said Jay Rappaport, Legacy Investing CEO and co-founder.
“We are pleased to continue expanding our data center footprint into a new market for Invesco Real Estate. Our continued collaboration with Legacy and Flexential is representative of our growing commitment to the data center sector. We look forward to significantly growing these important relationships in the future,” said Joshua Siegel, Managing Director, Transactions, Invesco Real Estate.
With this expansion, Flexential’s Dallas portfolio is expected to span over 432,000 square feet of data center space.