In an all-cash transaction valued at $246.8 million, QTS, a Blackstone affiliate, has acquired 206 acres of land in the West Valley from TGV Investments LLC. The property is situated within the Hermosa Ranch Technology Campus in Avondale and falls under a federally designated opportunity zone. According to reports from the Phoenix Business Journal, this site is located at the southwest corner of Avondale Boulevard and Lower Buckeye Road and sits just north of Prime Data Centers’ planned $2 billion campus that will include 240 megawatts of power capacity along with a substation and battery energy storage facility.
This new data center project is expected to bring about 150 jobs to the area with additional employment opportunities during its construction phase. In addition to this acquisition, QTS also has plans for another data center campus spanning over 3 million square feet across 400 acres in Glendale’s Loop 303 corridor. This development will consist of sixteen buildings totaling approximately180,000 square feet each and was purchased by QTS for $225 million.
Overall,QTS continues its expansion efforts as it solidifies itself as one of Arizona’s leading players in data centers through strategic acquisitions such as these.
