Data Center View - July 10, 2025 - SRM and Pearlmark acquire Chicago data center

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NEWS ROUNDUP

ACQUISITION: SRM and Pearlmark enter Chicago market with data center acquisition. SRM and Pearlmark have acquired a fully leased data center and flex industrial facility in Arlington Heights, marking SRM’s first deal in the Chicago area. The property features strong power capacity and infrastructure, and the new owners plan to boost its long-term value through active management and ongoing investment. Wintrust Commercial Real Estate provided acquisition financing.

ACQUISITION: Hive Digital acquires Toronto data center. Hive Digital has acquired a 7.2MW data center in Toronto through its subsidiary Buzz High Performance Computing, marking its first owned Tier III-quality facility for high-performance and AI computing in Canada. The upgraded site will support up to 5,000 GPUs and serve government, enterprise, and research workloads. Craig Tavares, president and COO of Buzz HPC, and Aydin Kilic, CEO of Hive, emphasized the strategic importance of this move for Canadian data sovereignty and innovation. Hive also operates sites in Quebec, New Brunswick, Sweden, and Paraguay.

DEVELOPMENT: Aurum Capital eyes North Dakota for AI data center. Aurum Capital Ventures is exploring a potential 300-acre site in Burleigh County, North Dakota, for a large-scale AI data center. A land agent recently approached the Burleigh County Commission to discuss project specifics, including power and land requirements. While still early, the proposal signals growing interest in North Dakota’s capacity to support energy-intensive digital infrastructure.

DEVELOPMENT: 280K SF data center underway in Texas. A new 280,000 sq ft data center dubbed “Data Center THM1A” is under construction in Lueders, Texas, according to state filings. Despite its size, the project is listed with a modest $350,000 construction cost, with funding not provided by the future tenant. HDR Engineering is leading the build, which is set for completion by April 2027.

PEOPLE MOVES: Prometheus Hyperscale names new Global Head of Infrastructure delivery. Prometheus Hyperscale has appointed James Faccone as Global Head of Infrastructure Delivery, tasking him with overseeing the company’s global rollout of AI-ready, energy-efficient hyperscale data centers. Faccone, who previously held senior roles at Meta, Facebook, Equinix, and most recently SiTESPAN, brings over two decades of experience in mission-critical infrastructure. CEO Trenton Thornock called the hire a “major milestone” as Prometheus scales operations to meet AI-driven demand. Faccone praised the company's ambition and said he looks forward to building the infrastructure powering the future of AI.

READ: Data center construction boom around the world.

DATA CENTER PROPERTY FOR SALE 

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5,000 Acres | Three Independent Power Lanes (250MW Behind-the-Meter Ramp Available From Mid-2026, 250MW Wind Offtake Available From July 2026, High-Pressure Gas Line That Can Provide 500MW of Onsite Power Within a 12-Month Period)

DATA CENTER PROPERTY FOR LEASE 

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85K SF | Tier III Design | 10MW Available - Ready for Deployment by October 1, 2025 | Three-Token Access Control | N+1 Mechanical Redundancy

ONE MORE THING

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