Friday, January 27, 2017

Facebook's $1B high-tech hub in Fort Worth is up and running

Facebook's latest $1 billion high-tech hub – one of the largest data center campus projects to ever hit North Texas — is up and running with construction completed on its initial plans.

The Menlo Park, California-based social media giant also acquired nearly 40 acres of land adjacent to its data center campus last year for potential expansion in the future.
When Facebook Inc. (Nasdaq: FB) initially decided to put a major data center campus in North Texas, the company purchased 110 acres for the data center campus, which officials said was estimated to cost $1 billion to develop.

With the acquisition, Facebook has nearly 150 acres of land in Fort Worth.
At the time, real estate sources said they weren't surprised by Facebook's acquisition of additional acreage.

"Land is finite; they saw the opportunity to purchase more land and they wanted to make sure they had an ample amount of land to expand on, should they need to do that," said Bo Bond, a managing director with JLL's Dallas office, who specializes in data center real estate.

"They have a lot to build and have only committed to three buildings on their current site," he added. "They are probably looking 10 years down the road and looking into the future."

Candace Carlisle/Dallas Business Journal.