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QTS Pays Nearly $250M for W. Valley Data Center Site
Blackstone affiliate QTS acquired 206 acres in the West Valley from TGV Investments LLC in an all-cash deal, worth $246.8 million.
The property is located in a federally designated opportunity zone at the Hermosa Ranch Technology Campus in Avondale. The Phoenix Business Journal reports the site is located at the southwest corner of Avondale Boulevard and Lower Buckeye Road, just north of the planned $2 billion Prime Data Centers campus, which will include 240 megawatts, a substation and a battery energy storage facility.
The data center project will create about 150 new jobs with many more needed during construction.
QTS is also developing a 3 million-square-foot data center campus across 400 acres in the Loop 303 corridor in the Glendale area. The campus will consist of 16 buildings, each totaling 180,000 square feet. It paid $225 million for the site.
