Japan's Mitsubishi Estate is planning a large-scale data center build-out in the US.

Nikkei reports Mitsubishi Estate plans to build 14 data centers across the US through its US subsidiary, TA Realty, that could total around 2.8GW at full build-out.

The required investment could total $15 billion. Capital for the projects will be raised from institutional and corporate investors, with Mitsubishi Estate itself planning to invest around $1.1bn.

North American real estate investment firm TA Realty launched a dedicated hyperscale data center development arm last year.

The company is developing a 430MW build-to-suit campus in Virginia's Loudoun County with an unnamed cloud services provider. Full build-out of the Leesburg site is expected in 2027.

In July 2024, TA Realty partnered with EdgeConneX and announced plans to develop a 324MW data center campus in Atlanta. The companies didn’t share details, but TA is known to be planning developments in Ellenwood and Union City.

BizJournal has previously reported that TA was set to acquire 93 acres in Sterling in Virginia’s Loudoun County to develop a campus.

A separate article from Nikkei Asia adds that while the majority of TA’s build-out will be centered around Virginia, the company is also targeting Chicago, Illinois, though details are unclear. Additional sites in other states are also set to be considered. The projects are expected to be completed by 2030.

The publication noted that after the planned facilities are completed, they will be sold to investment funds or financial institutions. TA Realty may launch a dedicated fund to acquire some properties.

Mitsubishi Estate is the real estate arm of the former Mitsubishi Group. It was established in 1937 as a spin-off of the real estate holdings of the Mitsubishi zaibatsu. Mitsubishi Estate operates small-scale data centers in Tokyo, but may also look to develop larger sites in Japan on the back of its US expansion.