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Data Center View - June 17, 2026 - Stargate campus reaches construction milestone

Data Center View - June 17, 2026 - Stargate campus reaches construction milestone

Jane Street building new data center. Prime Data Centers seeks $850M bond financing. Monterey Park voters approve citywide data center ban. The hunt for data centers is distorting land prices. Two new data center deals.

Matt H
June 17, 2026

Good morning. Welcome to Data Center View! In each issue, we cover the top stories, trends, and listings in the data center sector.

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NEWS ROUNDUP

DEVELOPMENT: Stargate campus reaches construction milestone. Related Digital, Blackstone, Oracle, OpenAI, and Walbridge have marked a major construction milestone at The Barn, a multi-billion-dollar Stargate data center campus under development in Saline Township, Michigan. All campus buildings are now under construction, with the first of three 550,000-square-foot single-story data center buildings nearing completion.

DEVELOPMENT: Jane Street explores building 100-200MW data center. Jane Street is reportedly exploring plans to develop its own data center, with discussions underway across the technology, cryptocurrency, and financial sectors. The quantitative trading firm is seeking approximately 100MW to 200MW of capacity to support internal AI model training, including models tied to asset price forecasting. No final decision has been made on the project’s location or capacity.

FINANCING: Prime Data Centers seeks $850 million bond financing. Elk Grove Village Property, an indirect subsidiary of Prime Data Centers, is seeking to raise $850 million through a high-yield bond offering to support a hyperscale data center project in the Chicago metropolitan area. The facility has been fully leased to CoreWeave under a 15-year lease agreement that is expected to generate approximately $2.2 billion in revenue, with two additional seven-year renewal options. Proceeds from the bond sale will be used to refinance $500 million of existing debt, fund remaining construction costs, and support general corporate purposes.

POLICY: Monterey Park voters approve citywide data center ban. Voters in Monterey Park, California have approved Measure NDC, establishing what is described as the nation’s first permanent citywide ban on data centers. More than 86% of voters supported the measure, which prohibits data centers within city limits and can only be overturned by another citywide vote.

READ: The hunt for data center sites is distorting land prices.

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