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Property firm McKnight Development has set up a subsidiary to develop data centers.
The company has formed H5 Colo and is reported to be developing 50,000 sq ft of data center space in a 220,000 sq ft site in Dallas, Texas. $4 million has already been spent with another $4 million currently being invested in the project which is expected to be completed in six months.
The $30 million site was formally a credit card processing center for J.C. Penney said the Dallas Business Journal.