Microsoft has paid $28.8M for a chunk of land in south Fulton County, Georgia, to house a new 250K SF data center.
The site is part of Shugart Farms, a multiphase industrial park development in Palmetto. Microsoft's Cloud Infrastructure Sourcing and Acquisitions unit carried out the property deal, according to the Atlanta Business Chronicle. The paper also reported that Microsoft is considering building another 250K SF data center in the area, but has yet to secure land for it.
The Palmetto development is worth $420M, and Microsoft will reportedly receive $14.5M in property tax reductions over the next year as part of an incentive package.
Atlanta recorded the fifth-most data center leasing activity of any U.S. market in the first half of 2020, according to CBRE.
Additionally, a number of colocation providers, such as QTS and Stack Infrastructure, are either building or expanding data centers in the Atlanta metro area.
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