Digital Realty and Mitsubishi Corporation have announced a new joint venture to develop two data centers in the Dallas metro area. These facilities are fully pre-leased to an S&P 100 investment-grade customer on a long-term basis, showcasing their strong demand in the market. Mitsubishi has acquired a 65% equity interest in the venture for approximately $200 million, while Digital Realty retains a 35% stake and will oversee development and operations with customary fees.
Both partners will contribute their pro rata share of the remaining estimated $100 million for phase one of construction, which is expected to be completed by late 2024. The first phase will deliver an initial capacity of 16 megawatts (MW) at an approximate cost of $400 million.
Construction on these state-of-the-art data centers began in Q4 of 2022, demonstrating our commitment to providing cutting-edge technology solutions for businesses operating within this region.
