Data Center View - February 26, 2025 - Prologis sells $16 million data center

Good morning. This is Data Center View, and we understand the assignment.

→ We are here to serve the owners, brokers, and users who are interested in data center real estate. Do us a favor, and forward this email to your favorite data center pro. They can sign up here.

Now, let’s get to it.

NEWS ROUNDUP

DISPOSITION: Prologis sells $16 million data center. Prologis has sold a 28,083 SF data center in Philadelphia's Navy Yard to Landmark Dividend, an investment firm based in El Segundo, CA, for $16.3 million. The facility is fully leased by TierPoint, a St. Louis-based information technology company. Karlton Holston, Executive Vice President of data centers for Landmark Dividend, expressed enthusiasm about the acquisition, highlighting the site's potential for capacity expansion and increased value.

PARTNERSHIP: Kirkland advises Blue Owl. Blue Owl Capital, in partnership with Crusoe Energy, has closed a $3.4 billion joint venture to fund the development of a 206MW data center in Abilene, TX, which is set to play a pivotal role in Project Stargate. The transaction was facilitated and advised by Primary Digital Infrastructure, while Kirkland & Ellis represented Blue Owl in the deal. The Kirkland & Ellis team advising on the joint ventures included real estate lawyers David Rosenberg, Andy Van Noord, David Stanek, and Tam Ho. The financing team was led by real estate finance lawyers Kim McGrath and Kevin Donahue, along with debt finance lawyers Roald Nashi, Linda Zang, and Greg Howling.

FUNDRAISING: Aligned raises $12 billion. Aligned Data Centers has announced the completion of a capital raise, securing over $5 billion in new primary equity and $7 billion in new debt commitments. The funding round, led by Macquarie Asset Management, included participation from multiple large global investors with deep expertise in digital infrastructure. The capital infusion will drive the development of Aligned’s 5+ GW of planned future capacity across the Americas, ensuring the company can meet the surging demand for AI and cloud computing infrastructure from hyperscale and enterprise customers. “We appreciate the commitment of our esteemed investors as we capitalize on the significant growth opportunities presented by the increasing demand for AI and cloud services,” said Andrew Schaap, CEO of Aligned Data Centers. Whereas Anton Moldan, Senior Managing Director at Macquarie Asset Management, noted that his company is excited to support the growth of Aligned Data Centers.

DEVELOPMENT: Microsoft buys 240 acres in Kenosha. Microsoft has purchased 240 acres of land from the State of Wisconsin and the City of Kenosha, paving the way for a new data center in southeastern Wisconsin. The land, located northwest of Interstate 94 and Highway 142, is expected to become a major AI-focused hub for the tech giant.

DEVELOPMENT: Southeast Property seeks permit for Georgia data centers. A new data center campus has been proposed in Hampton, GA, as Southeast Property Holdings has applied for a conditional use permit for 133 acres. According to the city’s legal notice, the applicant is seeking light industrial zoning to accommodate the data center development.

READ: Why is Silicon Valley spending a fortune on AI data centers?

DATA CENTER PROPERTY FOR SALE 

Click on each photo for more information.

4.21 Acres | 25 MW Capacity | Already Leased, 3 Years Left on Lease Term | Built in 2016

4.91 Acres | 1.35 MW of Critical Capacity at N + 1 Redundancy Today | 6 MW of Generator Capacity | Partially Leased

ONE MORE THING

→Try our resources for data center pros:

Search Properties | Data Center Real Estate News | Comps | Professional Network | Advertise Listings | Share a Closing Announcement