Data Center View - May 19, 2025 - DataBank acquires NJ data center for $16 million

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NEWS ROUNDUP

ACQUISITION: DataBank acquires New Jersey data center property for $16 million. DataBank has acquired the building housing its EWR2 data center in Piscataway, New Jersey, as part of its strategy to convert leased sites into owned assets. The 22,590 sq ft facility offers 3MW of power and supports densities up to 10kW. Though terms weren’t disclosed, a January 2025 GTJ REIT filing revealed a $16 million purchase agreement, marking the sale of the only data center in GTJ’s portfolio. The building was formerly operated by Zayo’s zColo before DataBank acquired the business in 2020. CEO Raul K. Martynek said the move strengthens DataBank’s ability to align infrastructure investments with customer needs.

ACQUISITION: Colovore acquires San Jose data center for $37.2 million. Colovore has purchased the 29,100 sq ft facility in San Jose, California, for $37.2 million from Ellis Partners. The site, formerly industrial, now houses Colovore’s newly opened SJC02 data center. SJC02 launched in March 2025 and supports up to 250kW per cabinet using rear-door and direct-to-chip liquid cooling. Backed by King Street Capital, Colovore is expanding rapidly, with new sites in Reno, Chicago, and Austin in the pipeline. Clients include Cerebras, Lambda Labs, and Cirrascale.

DEVELOPMENT: Lambda to occupy Aligned’s $700 million data center in Texas. Aligned Data Centers has partnered with AI cloud provider Lambda to anchor its upcoming $700 million DFW-04 data center in Plano, Texas. Scheduled for completion in 2026, the 425,000 sq ft facility will integrate Lambda’s high-density GPU infrastructure to support AI and machine learning workloads. The 44-acre site will include an onsite substation and Aligned’s proprietary air and liquid cooling systems, offering more than 5,000MW of future capacity. Ken Patchett, Lambda’s VP of data center infrastructure, praised Aligned’s ability to rapidly deploy high-performance infrastructure to meet the company's aggressive standards.

DEVELOPMENT: Atlas proposes 2.4 million SF campus outside Atlanta. Atlas Development has filed plans for a major data center campus, dubbed Project Gracie, in Floyd County, Georgia. The proposed project calls for 2.395 million sq ft across seven buildings on greenfield land between Rome and Coosa. The site is currently owned by the Darryl William Edwards Living Revocable Trust. Build-out is expected through 2032.

ENERGY: Google to fund the development of three nuclear sites. Google has partnered with nuclear developer Elementl Power to advance three U.S. sites for future deployment of advanced nuclear reactors, each expected to generate at least 600MW. The deal, announced Wednesday, marks another strategic move by a tech giant to secure long-term baseload power for AI-driven data center growth. While terms remain undisclosed, Google will provide early-stage capital to support permitting, interconnection rights, and pre-construction efforts. The company will also have the option to purchase power once operational. Amanda Peterson Corio, Google’s global head of data center energy, said the collaboration enhances Google’s ability to "move at the speed required to meet this moment of AI and American innovation." Elementl Power, founded in 2022, is currently technology-agnostic but plans to select the most advanced reactor design when ready to break ground. CEO Chris Colbert, formerly an executive at NuScale Power, emphasized the role of partnerships in mobilizing capital to achieve clean energy goals. Elementl aims to deploy 10GW of nuclear power by 2035.

READ: AI could drive $6.7 trillion investment in data centers.

DATA CENTER PROPERTY FOR SALE 

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705K SF | 30.88 Acres | For Sale or Lease | 70MW of Existing Power Capacity, Expandable to 90+MW

Auction | 4.2 Acres | 130K SF | Built in 1975 | 1MW Dual-Feed Utility Power, N+1, or 2N Redundancy | Bidding Ends: 6/11

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