T5@Alliance Poised To Strike While The Iron Is Hot
T5 Data Centers, Hillwood Realty and IPI Data Center Partners Management are partnering to develop a data center campus within AllianceTexas to house enterprise-scale custom data centers. AllianceTexas has dedicated 350 to 400 acres of its 18,00-acre space to the construction of data centers.
This project comes hot on the heels of a stellar H1 in the DFW data center market with demand surging for data. According to CBRE research on the U.S. data center market, DFW surpassed every U.S. market except North Virginia with an absorption of 22 megawatts. Vacancy is at 16.8% with an available 38.8 MW out of a total inventory of 231 MW, not including deliveries coming soon. Pent-up demand has new data space getting snapped up almost as soon as it is available for pre-leasing.
“Even though there are a significant number of providers with space under construction or just recently having completed construction, there is still less than a year of first-generation vacancy available in the market … These co-location providers simply must have space readily available, or they will miss out on opportunities,” CBRE Senior Vice President Chris Herrmann said.
This bodes well for T5@Alliance, which said its aim is to turn north Fort Worth into a data destination. The project’s scale addresses future need as many data center customers are looking for space with room to grow.
“Cloud and hyper scale data center users are looking for locations that can offer a growth pathway, incentives, resiliency and speed to operation, all with low costs,” T5 President and CEO Pete Marin said in a statement.
Ready room to grow is somewhat scarce at the moment as the the two largest data center landlords in DFW, CyrusOne and Digital Realty, are nearly at capacity.