A former data center developer has carved a new niche and is looking to expand.
RecNation, founded by former CyrusOne CEO Gary Wojtaszek, has acquired a 440K SF space outside of San Antonio in its latest move to bring recreational vehicle and marine storage facilities to more cities across the U.S.
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RecNation provides indoor and covered storage options for boats, RVs, campers, all-terrain vehicles and more. It has already spent $250M on the purchase and development of 39 locations comprising 5.2M leasable SF in Arizona, Texas and Florida, according to the San Antonio Business Journal.
It intends to spend another $35M-$40M on additional facilities in the San Antonio area, Wojtaszek told the SBJ.
“We founded RecNation in Dallas based on our passion for the outdoors, and our focus on growing and serving customers across the southern U.S. would be incomplete without San Antonio,” he said in a news release.
RecNation’s rapid growth comes amid a partnership formed in December with private investment management firm Centerbridge Partners LP and WOJO Capital Partners that is focused on scaling the business nationwide, per a news release.
Wojtaszek left data center developer and operator CyrusOne upon its $15B sale in 2020, per the SBJ. He said he plans to apply many of the same leadership and operational tactics to RecNation.
“As a Texas resident, I have seen the significant growth in the San Antonio market firsthand, and as the former CEO of CyrusOne, we invested a significant amount of capital building the largest data center portfolio in the city and plan to bring the same commitment at RecNation,” Wojtaszek said.
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