A data center converted to include office and warehousing space has been sold in Irving, Texas, and will be used as a manufacturing space.
Previously a data center for Fidelity Investments, the 4.7-acre property was ‘retooled’ by the seller to include warehouse space as part of a ‘value-add strategy for its repositioning.’
The property at 6001 Campus Circle Dr. W. in Irving’s Las Colinas Business Park is now a 113,406-square-foot (10,500 sqm) office flex property; at the time of sale, the building features 55,863 sq ft (5,190 sqm) of data center/support space, 31,652 sq ft (2,940 sqm) of warehouse area, and 25,891 sq ft (2,400 sqm) of office suites.
Built in 1981 and updated in 2020, the building was previously a single data center with 136,000 sq ft (12, 600 sqm) of floorspace. When sold, the two-story building featured a 30,135 sq ft (2,800 sqm) data center room on the ground floor and a second 25,728 sq ft (2,390 sqm) facility on the second story. The facility was listed with 8.5 MW of transformer power on-site with scope to expand to 18MW.
“We demoed about 35 percent of the interior to add warehouse space because we recognized how robust the market is for industrial and then offered it for sale or lease,” said Clint Holland, acquisitions director for Texas-based SkyWalker Property. “Campus Circle is well-suited for an owner/occupant. It made sense for us to sell it to a user and exit the investment.”
“It’s a favorable time for us to sell. There are not a lot of properties like these on the market at this time,” he added.
The site was bought by Vesgro Corp. of Plano, Texas, which plans to make the property its new manufacturing location in Dallas/Fort Worth. The sale price wasn't disclosed.
Zane Marcell, Chris Stout, and Melissa Holland of JLL represented the seller of record, Tech the Halls LLC. The buyer’s broker was Brett Lewis of Lee & Associates DFW.
Increased demand for warehouse and logistics space amid eCommerce growth is resulting in increased competition for prime land and properties against data center firms, particularly as Covid-19 fuelled demand for both online shopping and cloud services.