Vantage Data Centers is growing its Silicon Valley footprint, acquiring a large research and office building in a prime South Bay location.
Acting through an affiliate, Vantage paid $40M for a 113,600 SF site at 2590 Walsh Ave. in Santa Clara, according to the San Jose Mercury News.
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The building's large, 6.7-acre parcel makes it suitable for redevelopment as a large data center, which would complement Vantage's existing presence in the area. Vantage operates two other data center facilities within walking distance of the newly purchased site, both of which Facebook leased in 2020, according to the Mercury News.
Last July, Vantage announced a $3.5B partnership with real estate investment trust Colony Capital. As part of that deal, a group of Colony-led investors agreed to invest $1.2B in Vantage's data center portfolio, which at the time included 12 centers totaling more than 1.4M SF across Silicon Valley, Washington and Canada.
In January 2021, Vantage said that it more than doubled its size in 2020 in terms of markets served, and expanded its IT capacity by more than 90%.
The company also expanded into Europe last year, and now has a presence in seven countries. Its European expansion included the acquisition of Etix Everywhere; greenfield developments in Frankfurt, Berlin, Milan, Warsaw and Zurich; and the acquisition of UK-based Next Generation Data.
Once fully developed, Vantage's current and planned campuses will amount to 1 gigawatt of operational capacity and more than 7M SF.
“We are excited to see Vantage’s transformation to a scaled global hyperscale data center operator,” said Marc Ganzi, CEO of Colony Capital and Digital Colony, in a statement. “We couldn’t be more pleased to support their strategic M&A, business development and financing needs in 2020 and beyond.”
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