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JLL negotiates 35-acre land sale at intersection of Dallas North Tollway and Main Street in Frisco
DALLAS, July 22, 2014 – Patronus Data Centers today announced that the firm has plans to develop a multi-tenant data center facility at the high-profile intersection of the Dallas North Tollway and Main Street in Frisco, Texas. The 35-acre site, which the company closed last Thursday, can accommodate up to four phases that will include roughly 500,000 square feet of data center and associated office development. The site is adjacent to an in-place substation that today supports up to 50 megawatts and has the capacity to reach up to 250 megawatts.
The first phase of the project, that is set to kick-off before year-end, will consist of approximately 125,000 square feet of building area and exceed $60 million in total improvements. Upon completion Patronus estimates that over $250 million will be invested into the development.
“The site is very attractive for several reasons. In addition to the proximity to ample power and connectivity, we wanted to be positioned in the path of growth where there is almost no competition from existing providers,” said Vice President Ryan Sullivan. “The Far North Dallas area is almost always short-listed when corporations evaluate a potential office relocation, and we hope to capitalize on that trend by delivering new data center product to support that commercial growth in Frisco.”
JLL’s Managing Director Bo Bond and Senior Associate Ali Greenwood negotiated the land sale on behalf of the buyer, Frisco-based Patronus Data Centers. Capstone Commercial represented the seller, PNL Companies.
Gensler designed the new facility to blend with the aesthetics of the surrounding neighborhood in keeping with guidelines developed by the City of Frisco.
This marks Patronus Data Centers’ first acquisition since being founded last October. The management team includes Chief Operating Officer, Kenneth Wolverton, formerly with CyrusOne, along with Vice President of Development & Operations Ryan Sullivan, and Senior Vice President of Sales & Marketing Michael Carnes. Both Sullivan and Carnes were previously with Digital Realty Trust.
As reported by the Dallas Morning News earlier this year, the site’s zoning was modified to include data center development in a unanimous vote from The Frisco Planning and Zoning Commission, and has since been approved by City Council.For more news, videos and research resources on JLL, please visit the firm’s U.S. media center webpage. Bookmark it here: http://bit.ly/18P2tkv.
About JLL JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4 billion, JLL has more than 200 corporate offices and operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $48.0 billion of real estate assets under management. JLL is the brand name of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
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