Data Center Investment News — 8/11/2024
Land development opportunity in Allendale, MI for a new data center
Newmark’s Data Center Capital Consulting group has been exclusively retained to sell Allendale Data Center, a data center development opportunity with a seamless path to achieving 500 megawatts of utility in Allendale, Michigan.
Spanning ±187 acres, with possible expansion capabilities, Allendale Data Center benefits from rezoning (underway) and topography that would allow for the construction of an up to ±2.4 million- square-foot buildable footprint.
Power can be delivered to Allendale Data Center by a 138-kilovolt transmission line and substation to be developed by the site’s utility provider, Consumers Energy.
In fact, Consumers Energy has already provided current ownership with a proposal letter and draft facilities agreement to deliver 500 megawatts of power capacity to Allendale Data Center with 200 megawatts achievable in 42 months and another 300 megawatts achievable in 66 months.
Allendale Data Center is well positioned off Route 46, which facilitates connectivity to Interstates 96 and 196 as well as Grand Rapids (25 minutes away) and Detroit (2.5 hours away). The surrounding Grand Rapids area hosts Michigan’s second-largest data center cluster after only the Detroit area.
Allendale Data Center is being offered without a formal asking price, free and clear of debt.
AtNorth to expand two Icelandic data centers
Nordic colocation firm atNorth is expanding two data centers in Iceland. The ICE02 campus near Keflavík will add 35MW, and the ICE03 site in Akureyri, which opened last year, will gain 16MW. The initial phase of ICE02’s expansion became operational in Q3 2024, with further phases for both sites expected by H1 2025. Both campuses also have room for future expansion as demand grows.
“We are experiencing a considerable increase in interest in our highly energy efficient, sustainable data centers,” said Eyjólfur Magnús Kristinsson, CEO at atNorth. “We have power agreements and building permits in place and will meet this demand as part of our ongoing sustainable expansion strategy”.
Additionally, atNorth has partnered with AgTech startup Hringvarmi to recycle excess heat from ICE03, using it to grow microgreens with food producer Rækta Microfarm.“We are delighted to be part of atNorth’s innovative data center ecosystem,” said Justine Vanhalst, co-founder of Hringvarmi. “Our partnership aims to boost Iceland’s agriculture industry to lessen the need for imported produce and contribute to Iceland’s circular economy.”
The ICE02 facility, 13,750 sqm (148,000 sqft) in size and capable of up to 80MW, is located near Keflavik Airport, southwest of Reykjavík. ICE03 spans 2,500 sqm (26,900 sqft) and can eventually expand to 50MW. Both are connected to Iceland’s renewable energy grid, powered by hydro and geothermal sources.
atNorth, spun off from Advania in 2017 and owned by Partners Group since 2022, operates seven data centers across Sweden, Iceland, and Finland. The company has four more sites in development, including two in Finland (Helsinki and Kouvola) and two in Denmark, set to launch next year
South Korea’s KIOST signs agreement to develop underwater data center in Ulsan
South Korea’s plans for an underwater data center have advanced with a cooperation agreement between the Korea Institute of Ocean Science and Technology (KIOST), Ulsan Metropolitan City, GS Engineering & Construction, and POSCO. This project aims to create a 100,000-server eco-friendly underwater data center complex on the seabed.
KIOST president Lee Hee-seung said: “KIOST is expected to take the lead in developing related technologies to build an eco-friendly underwater data center, thereby strengthening the competitiveness of the data industry for carbon neutrality and energy conservation and contributing to revitalizing the local economy.”
The initiative, initially proposed in April 2022 as part of an underwater city project funded by the South Korean government, involves 23 companies, including SK Telecom and Lotte Engineering. A detailed design for the complex, including data center and residence modules, is expected by year-end. The first module will be deployed 30 meters underwater off Sinri Port, Seosaeng-myeon, Ulju-gun, Ulsan Metropolitan City. Three people are set to reside in the underwater complex.
Globally, interest in underwater data centers is growing. Chinese company HiCloud operates servers 35 meters underwater near Hainan, aiming to deploy 100 modules. Subsea Cloud plans to run 13,500 servers in Asia. California startup NetworkOcean is developing a 500kW data center for San Francisco Bay.
Microsoft is the highest-profile player in the space, but has seemingly dropped its interest in the concept. The cloud giant’s Project Natick saw a subsea data center deployed off the coast of Scotland in 2018.
Switch plans second expansion of pyramid data center campus in Grand Rapids, Michigan
Switch is expanding its data center campus at the Steelcase Pyramid in Grand Rapids, Michigan, with a second and third building in the works. The first 312,000-square-foot (29,000 sqm) expansion was approved in 2021, and construction began in 2022. It is expected to open in the spring, adding substantial capacity to the existing site.
According to John Truscott, CEO of Truscott Rossman and spokesperson for Switch, the second building — “a massive investment” — is set to open in early Q2 of 2025. Plans for a third data center on the site are also underway, with construction anticipated to start soon and costing “several hundred million” dollars, though exact details were not disclosed.
Switch’s Grand Rapids site, located in Kent County, centers around the seven-story Steelcase Pyramid, a former corporate design facility built in 1989 for $111 million. Steelcase began vacating the property in 2010, and Switch acquired it in 2017 for $22.2 million after it was sold in 2015 for $4 million.
The first phase of Switch’s transformation of the site delivered over 225,000 square feet (20,900 sqm) of white space, with plans to eventually reach 1.8 million square feet (167,225 sqm) and up to 320MW of power capacity, at a total cost of roughly $5 billion.
Switch, owned by DigitalBridge and founded in 2000, operates large “Prime” data center campuses in Austin, Texas; Reno, Las Vegas; Grand Rapids; and Atlanta. Over the past year, Switch has also submitted plans to expand further in Austin and Atlanta, reinforcing its footprint in major U.S. markets.
Algerian government launches parliament data center
The People’s National Assembly (APN) in Algeria has recently launched a new data center, situated on the fifth floor of its building. The facility, inaugurated on October 31, 2024, by APN President Ibrahim Boughali, is described by the APN as one of the “most modern” data centers in Algeria. It will support essential functions such as data processing, storage, archiving, and security for the Assembly’s network and communications.
While specifics about the data center’s technical capabilities remain undisclosed, this initiative reflects Algeria’s ongoing efforts to advance its digital infrastructure. Earlier in 2024, the Algerian government signed an agreement with Huawei to establish a government data center, aimed at furthering the nation’s digital transformation. It is not confirmed whether this Huawei partnership is linked to the APN’s data center.
In parallel, China introduced the China-Africa Action Plan for Digital Cooperation and Development, which includes constructing a China-Africa digital technology cooperation center. The initiative, which supports Chinese businesses in undertaking 20 digital infrastructure projects across Africa, will expand 5G networks, smart cities, e-commerce, and digital trade in the region. However, it remains unclear which African countries will be involved.
Despite the increased interest in data center development across Africa, Algeria’s data center market remains relatively small, with no hyperscale providers currently operating there. Instead, local companies such as HostArts, Ayrade, ICOSNET, and ISSAL provide hosting services, mainly in Algiers and Oran, reflecting a nascent but growing sector within Algeria’s digital landscape.
Keppel acquires data center development project in Tokyo, Japan
Keppel Ltd. has acquired an under-development data center in Tokyo, Japan, marking its first data center development project in the country and its second asset in Japan. The acquisition, managed through its private fund Keppel Data Centre Fund II (KDCF II), involves a forward purchase agreement with Mitsui Fudosan for the facility known as Keppel Data Centre Tokyo 2. Ground was recently broken for the 300,000-square-foot (approximately 27,871 sqm) data center, and it is expected to be operational by 2027. While Mitsui Fudosan will handle the core and shell construction, KDCF II will oversee the fit-out, with Keppel as the facility manager.
Christina Tan, CEO fund management and chief investment officer of Keppel said: “We are delighted to celebrate the groundbreaking of Keppel DC Tokyo 2 which firmly establishes Keppel’s presence in Japan’s thriving data center market. With the rapid growth of generative AI and cloud services, demand for data centers will continue to surge and we are well-positioned to meet the requirements of our hyperscale customers with another future-ready data center. We look forward to working even closer with Mitsui Fudosan, a leader in real estate development, to further develop a quality pipeline of assets for our upcoming Keppel Data Centre Fund III.”
Keppel’s CEO Loh Chin Hua and Mitsui Fudosan’s COO Hiroyuki Shinozuka attended the groundbreaking ceremony. This acquisition builds on a partnership established in March between Keppel and Mitsui Fudosan, aiming to explore data center development in Japan and Southeast Asia.
Hiroyuki Shinozuka, COO (Logistics Properties Business Division), Mitsui Fudosan added: “This win-win partnership has enabled Keppel and Mitsui Fudosan to leverage each other’s strengths to develop a high-quality data center asset that will deliver value for all our stakeholders. Together, we are setting new standards for next-generation digital infrastructure assets in Japan and we hope to further strengthen our collaboration with Keppel to explore more growth opportunities.”
In July, Keppel acquired an existing Tokyo data center, Tokyo Data Centre 1, a freehold property with a net lettable area of 190,165 sq ft (17,665 sqm). The facility, leased to a Fortune Global 500 hyperscaler on a triple-net basis, was purchased for JPY 23.4 billion ($144.8 million). Keppel’s data center portfolio now spans 35 facilities in Europe and Asia Pacific with a combined power capacity of 650MW, including around 220MW in development. The company has announced intentions to double its total capacity to 1.2GW, signaling a strong commitment to expanding its data center presence in the region.
Amazon files for 3.8 million sq ft data center campus in Louisa County, Virginia
Amazon has filed to develop a substantial data center campus, known as the Northeast Creek Technology Campus, in Louisa County, Virginia. The planned campus spans 374 acres along Jefferson Highway (Route 33) near Desper Creek, and it will feature ten data center buildings, each approximately 382,000 square feet (35,490 sqm), along with three substations and administrative buildings. The development is expected to impact about one acre of wetlands and nearly 2,000 feet of streams.
Louisa County, positioned in central Virginia northwest of Richmond, is not yet a primary data center hub, unlike nearby Richmond, which hosts facilities from major operators like Meta, QTS, Flexential, EdgeConneX, and Lumen. Amazon, however, is expected to significantly boost Louisa’s data center footprint. In August 2022, Louisa County’s Board of Supervisors announced Amazon Web Services’ (AWS) plan to invest $11 billion by 2040 in establishing two data center campuses within Louisa’s Technology Overlay District (TOD).
This filing comes shortly after Amazon’s September 2023 proposal to develop a 153-acre site, the Lake Anna Tech Campus, located 10 miles from the newly filed campus. The Lake Anna campus is set to include up to seven data centers, totaling 1.7 million square feet (157,935 sqm), and will feature two substations.
Amazon’s presence in Northern Virginia is already extensive, with facilities in counties like Loudoun, Fairfax, and Prince William, and plans to expand into Fauquier, Culpeper, King George, Spotsylvania, and Caroline Counties. Louisa’s TOD, established in 2023, encourages technology center development in areas with suitable infrastructure, providing hundreds of acres of newly zoned land in the county’s center. This expansion aligns with Louisa County’s aim to attract high-tech development and reinforces Amazon’s investment strategy in Virginia’s growing data center industry.
First state-owned data center launches in Benin City, Nigeria
The first state-owned data center in Benin City, Nigeria, was launched this week in Edo State as part of the local government’s digital revolution and technological advancement efforts. Governor Godwin Obaseki inaugurated the facility, which is intended to serve as a secure hub for government and business data. While specific details about the data center have not been disclosed, Obaseki emphasized its importance for supporting digital operations and offering secure data storage options for local businesses and the South-South region of Nigeria.
The establishment of the data center reflects Edo State’s commitment to digital transformation, positioning itself as a knowledge hub and aiming to remain competitive in an increasingly digital world. As part of this vision, the state has also invested in initiatives to empower youth, such as EdoJobs and the Edo Innovate Hub, which have collectively trained more than 50,000 young people in digital career paths.
Edo State boasts the largest fiber optic network in Nigeria and has operated paperless government functions since 2023. This marks a significant shift in Nigeria’s data center landscape, as the majority of data centers have traditionally been concentrated in Abuja and Lagos. The launch of this new facility in Edo is a key milestone in the state’s drive to foster digital infrastructure, promote innovation, and support economic growth through technology in the region.
Wole Abu to replace MainOne founder Funke Opeke as Equinix’s West Africa MD
Wole Abu has been appointed as the new Managing Director for Equinix’s operations in West Africa, replacing the founder and CEO of Equinix’s MainOne, Funke Opeke. Abu, who previously served as the CEO of Liquid Intelligent Technologies, and held roles at Airtel and Pan African Towers, will now oversee Equinix’s operations in Nigeria, Ghana, and Côte d’Ivoire.
On X, Abu said: “Equinix is a company with a clear vision for a connected Africa. The company’s dedication to advancing digitalization in Africa is something that matters to me personally.”
Funke Opeke, who previously worked at Verizon and MTN Nigeria, founded MainOne in 2015, which was acquired by Equinix for $320 million in 2021. Opeke will transition into a strategic advisory role for the West African region, where she will remain until March 2026.
Although MainOne’s brand will remain intact, its West African data center division, MDXi, was rebranded under the Equinix name earlier this year. MDXi operates five data centers across West Africa, including facilities in the Ivory Coast (two), Ghana, and Nigeria (two).
The second Ivory Coast facility, launched at the end of 2023, is located on the outskirts of Abidjan, while the first facility in the Ivory Coast is a prefab module with a capacity for 100 racks. Abu’s leadership will guide the continued expansion of Equinix’s influence and services across the region.
Ooredoo launches 10MW Sohar data center in Oman
Ooredoo, a Qatari telecommunications company, has launched a new 10MW data center facility in Sohar, Oman. The facility, designed to Tier III standards, can accommodate up to 1,200 racks, though additional details about the center have not been disclosed. This launch is part of Ooredoo’s strategic push to support Oman’s Vision 2040, aiming to drive digital transformation in the country.
“The launch of the Sohar data center represents a major strategic milestone for Ooredoo and a major step towards digital transformation in Oman,” said Dr. Ahmed Abdullah Al Abri, chief technology and information officer at Ooredoo.
He added: “With a robust, secure, and scalable infrastructure, we will enable businesses to meet their daily needs and prepare for the demands of tomorrow. This investment reflects our commitment to driving innovation, fostering growth, and supporting the overall goals of Oman Vision 2040.”
Plans for the Sohar facility were first announced in August 2022, alongside two additional facilities in Barka and Salalah. Ooredoo currently operates 26 data centers across Qatar, Kuwait, Oman, Iraq, and Tunisia. The company has committed to expanding its data center capacity to more than 120MW, backed by a $1 billion investment plan for the medium to long term. In September, Ooredoo secured $552 million in financing to accelerate the growth of its data center and AI operations.
In Oman, Ooredoo joins other data center operators such as Equinix, Datamount, and Omantel, which also launched a facility in Salalah earlier this year.
Wesco acquires Ascent for $185 million
Wesco International, a US logistics and supply chain solutions company, has announced the acquisition of Ascent LLC, a provider of data center management and solutions. The purchase is valued at $185 million, on a cash-free, debt-free basis, and is expected to close in the fourth quarter of 2024, pending regulatory approval.
Ascent, a privately-owned company founded in 1998, specializes in data center design, build, operations, and maintenance. It offers a range of services, including liquid cooling design and implementation, repairs, emergency services, and managing third-party maintenance workflows. Ascent is also known for its proprietary Navigator platform, which integrates a client dashboard to support data center infrastructure and facilities management. The company has annual sales of $115 million and has seen a 30% compound annual growth rate over the past three years.
“This services-based acquisition strengthens our leading data center solutions portfolio for our customers,” said John Engel, chairman, president and CEO of Wesco. “In addition to site operations, Ascent’s engineering expertise and professional services further enhance our solutions that span the entire lifecycle of the data center.”
“With more than 330 employees in the United States and Canada, Ascent’s strong team, innovative technology, and extensive customer base make it an ideal pairing with Wesco Data Center Solutions. This acquisition will allow us to further extend our end-to-end service offerings — including advanced liquid cooling solutions — in collaboration with our supplier and contractor partners to meet the demands of the rapidly growing data center market,” said Bill Geary, EVP and general manager, Wesco communications and security solutions.
Ascent operates two data centers: a 310,000 sq ft facility in Toronto, Canada, with up to 60MW of capacity, and a 250,000 sq ft facility in Chicago, Illinois. Ascent previously owned data centers in Atlanta, Georgia, and Plano, Texas. Wesco, headquartered in Pittsburgh, launched its data center business in March 2023 and has made several acquisitions, including the purchase of entroCIM in the summer of 2024.
Data Center Land Development Opportunity – Florence Data Center
Newmark’s Data Center Capital Consulting group has been exclusively retained to sell Florence Data Center, a data center development opportunity with the ability to access 350 megawatts of utility in Florence, South Carolina.
Spanning ±188 acres, with possible expansion capabilities, Florence Data Center benefits from zoning and topography that allow for the construction of an up to ±1.3 million-square-foot buildable footprint.
Power is delivered to Florence Data Center by two 230-kilovolt transmission lines and one 115-kilovolt transmission line. A preliminary feasibility study completed by the site’s utility provider, Duke Energy, indicates a 230-kilovolt line could be utilized to achieve 350 megawatts of
power capacity via a single-feed/radial tap in 30 months with a customer-procured substation or 48 months with a provider- built/maintained substation. A dual-feed switching station can be completed in 60 months with a significant reduction possible if an entity has its own equipment.
Florence Data Center is well positioned off Interstate 95 and surrounded by one of the hottest and fastest-growing data center markets in the country. Anchored by Columbia, South Carolina (±80 miles away) and Charlotte, North Carolina (±100 miles away), the area is an established commercial hub that hosts numerous hyperscale data center developments.
Florence Data Center is being offered without a formal asking price, free and clear of debt.
Equinix launches data center in Istanbul, Türkiye
Equinix, a leading US-based colocation provider, has launched its second International Business Exchange (IBX) data center in Istanbul, Türkiye, named IL4. This facility offers 1,125 cabinets and spans 3,045 sqm (32,775 sq ft) of colocation space. The plans for the IL4 facility were first announced in Equinix’s Q4 2022 financial results.
Located on the same campus as Equinix’s existing Istanbul data center, IL2, the IL4 facility has been designed to support liquid cooling for high-density deployments. This is particularly significant as the demand for high-performance computing and AI applications grows globally. Aslihan Güreşcier, Equinix’s Managing Director for Türkiye, highlighted Istanbul’s strategic location as a key connectivity hub between Europe and Asia and noted the city’s rapidly expanding IT services market, making it a prime destination for businesses aiming to scale their operations and improve connectivity.
Equinix entered the Turkish market in 2017 by acquiring Zenium’s Istanbul data center campus for $93 million. The acquisition included three buildings, one of which was fully built out, and had 1,500 square meters (16,146 sq ft) of colocation space available, with the potential to expand to 12,000 square meters (129,167 sq ft) and up to 22MW of critical load capacity. The third phase of the campus, now known as IL2, was completed in Q3 2022, adding 550 racks.
SK Telecom is accelerating its AI initiatives with a large-scale project called the “AI Infrastructure Superhighway.” This strategy focuses on building advanced AI data centers (AIDCs), offering cloud-based GPU services (GPUaaS), and enhancing edge AI capabilities. The company aims to create a robust AI ecosystem within South Korea and expand internationally through partnerships.
As part of this initiative, SK Telecom plans to establish hyperscale AI data centers across South Korea, which will require over 100 MW of power, with future expansion goals targeting gigawatt-scale capacity. To meet the energy demands of these facilities, SK Telecom intends to integrate renewable energy sources such as hydrogen, solar, and wind power. The company is collaborating with SK Group on energy-efficient technologies, including next-generation semiconductors and immersion cooling systems, to reduce operational costs and enhance sustainability.
In December, SK Telecom will open an AIDC testbed in Pangyo, South Korea, featuring liquid cooling solutions, AI-optimized semiconductors, and advanced energy management technologies. The company is also addressing the domestic GPU shortage by converting its Gasan data center into a GPU-as-a-Service (GPUaaS) facility, which will offer services to clients in metropolitan areas. The service will initially deploy NVIDIA’s H100 Tensor Core GPUs in December and plans to upgrade to H200 Tensor Core GPUs by March 2025, in collaboration with Lambda.
Furthermore, SK Telecom is working on edge AI solutions that combine mobile networks with AI computing, aiming to bridge the gap between large data centers and on-device AI, further enhancing its AI infrastructure.
“So far, the competition in telecommunications infrastructure has been all about connectivity, namely speed and capacity, but now the paradigm of network evolution should be changed,” said Ryu Young-sang, CEO of SK Telecom.
“The upcoming 6G will evolve into a next-generation AI infrastructure where communication and AI are integrated.”
Seraya Partners’ Empyrion Digital to launch Taipai data centre in 2027
Empyrion Digital, a digital infrastructure platform, has expanded into Taiwan with the development of a 7MW (IT Load) edge colocation data center in Neihu, Taipei. This marks the company’s entry into the Taiwanese market, which is facing power shortages in its energy grid. The new facility, named TW1, is located in Taipei’s technology hub, Neihu, a district home to the headquarters of many gaming, electronics, and tech companies. Positioned in a network-dense area where east and west cable landing stations converge, TW1 is designed to serve both cloud services and high-performance AI computing needs.
Taiwan, with a population of over 23 million, is a global leader in semiconductor production and a fast-moving technology and R&D hub. The country is rapidly becoming a key data center market in North Asia, driven by its critical role in enabling cloud and AI technologies. According to Mordor Intelligence, Taiwan’s colocation revenue is expected to grow from US$226.2 million in 2024 to US$346 million by 2029, with a CAGR of 8.88%.
While Taiwan’s colocation market has traditionally been driven by domestic demand, there has been increasing interest from international cloud providers, content providers, and enterprises. The construction of the TW1 data center is expected to begin in 2025, with operations slated to start in 2027. By the end of 2025, Empyrion Digital plans to expand its pan-Asian platform to over 170MW (IT Load) across the region, including additional data centers in Singapore, Seoul, and Tokyo.
Mark Fong, CEO of Seraya Partners-backed Empyrion Digital, said: “We are excited to expand into Taiwan and this investment is another step forward in the company’s ambition to grow in Asia where land and power are scarce. With its robust semiconductor industry and tech-savvy talent pool, Taiwan is a strategic location for us to build the next generation of AI-ready data centres. Our presence here will ensure that businesses in Taiwan have access to the digital infrastructure necessary to stay competitive and foster deeper collaboration between Taiwan and global technology ecosystems.”
He added, “TW1 will add to our existing data centre cluster in Singapore, Korea and Japan, ensuring we are well-positioned to capture wholesale and edge co-location demand and empower our customers with flexible deployment solutions across the four markets.”
Thailand’s Board of Investment greenlights $2bn in data centre and tech investments
The Thailand Board of Investment (BOI) has approved new investments totaling 66.9 billion baht (approximately US$2 billion) in electronics manufacturing and data centers. This decision, made at a recent board meeting chaired by Deputy Prime Minister Pichai Chunhavajira, also includes the renewal of several investment promotion packages and relief measures for flood-affected companies in the North and Northeast regions of the country.
BOI Secretary General, Narit Therdsteerasukdi, said: “The continuous flow of new foreign investment in data centres and the electronic supply chain reinforces Thailand’s status as a regional tech hub.”
Notably, Quartz Computing Co. Ltd., a subsidiary of Alphabet Inc. (Google’s parent company), secured approval for a 32.8 billion baht (US$968 million) investment to build a hyperscale data center in Chonburi Province. This project was first announced on 30 September 2024 during a visit by a senior Google executive to Thailand.
Additionally, Digitalland Services (Thailand) Co., Ltd., a subsidiary of GDS IDC Services PTE Ltd., received approval for a 28 billion baht investment to construct another hyperscale data center, also in Chonburi Province. These new investments mark a significant step in Thailand’s strategy to strengthen its digital infrastructure and enhance its competitiveness in the global data center market.
The approved projects are expected to bolster Thailand’s digital capabilities, attract additional foreign direct investment, and solidify the country’s position in the high-tech industry, particularly in the rapidly expanding data center sector.
Capital Energy-owned unit to build $3.7bn data centre campus in northeastern Spain
The region of Aragon in Spain is set to benefit from significant investment in data centers, with a new development planned for a maximum area of 28 hectares. The project is expected to be completed by the end of 2029. To speed up the process, the Governing Council has already approved the declaration of General Interest (DIGA), a step that streamlines regulatory approvals.
This announcement comes on the heels of other major investments in Spain from global giants such as Blackstone, Amazon, and Microsoft, underscoring the growing significance of Spain as a key investment destination. Aragon, in particular, has become a focal point of technology sector investments, with regional president Azcón highlighting that “there is no other region in Europe that is receiving as much investment as Aragon.”
In 2024 alone, Aragon has attracted €36.4 billion (US$39.44 billion) in investments, with Box2Bit being one of the latest companies to commit. With the potential addition of a battery factory from Chinese company CATL to the Stelantis facility, the total investments in the region could soon exceed €40 billion (US$43.34 billion).
Azcón emphasized the crucial role that data centers play in this economic transformation, calling them “levers of change” and “motors of the Aragonese economy.” He declared 2024 as “a historic year without a doubt” for the region, with the upcoming Ebro Campus expected to contribute significantly to economic growth and create opportunities for the local workforce.
Cologix acquires land for data center development in Johnstown, Licking County, Ohio
Cologix’s recent acquisition of 155 acres in Johnstown, Licking County, Ohio, marks a notable addition to Ohio’s expanding data center market. Purchased from The New Albany Company for $44,968,750, this site is expected to support significant data center development in a region rapidly gaining traction in digital infrastructure. Newmark’s Data Center Capital Consulting Group, led by Michael Morris and Robert Griffin, represented the seller.
Ohio is increasingly becoming a hub for data centers, drawing attention due to its strategic location in the Midwest, access to reliable power, and growing fiber connectivity. Major tech players have been investing in the state, with central Ohio particularly seeing a surge in interest due to favorable tax incentives, lower operational costs compared to coastal regions, and proximity to large metropolitan areas. Licking County, specifically, is emerging as a data center hotspot, aided by new infrastructure investments and large-scale developments aligning with the region’s commitment to supporting the digital economy.