Anthony Bolner, senior vice president with Stream Realty Partners' Dallas office, says San Antonio was selected for the project because of the low cost of available power. The center will have two 10-megawatt utility feeds, with the primary feed coming from the proposed 200-megawatt Westover Hills substation immediately adjacent next to the site on Rogers Road.
"CPS, the city-owned utility in San Antonio has a generation mix of coal, nuclear and natural gas," Bolner says in a press release. "It means they can produce electricity at a much lower cost."
Another driver is the 417,000-sf Microsoft data center, which is next to Stream's site. Because of that, Bolner tells GlobeSt.com that the targeted tenants will be large corporate data center users who want a secure site with large setbacks that is out of the way of rail lines and flight paths while offering large amounts of low-cost power. The building can be expanded to 350,000 sf, if needed.
The quoted rate is $30 per sf, annually, triple net, for the fully-powered shell. Bolner says Stream's intent is to do a long-term lease with an enterprise user. Others on the Stream leasing team are Paul Moser and Rob Kennedy. Corgan Associates Inc. of Dallas designed the data center and Hill & Wilkinson Ltd. of Plano is building it.
The data center is going vertical three months after selling its first ready-to-fit building, which is along Pinecrest Drive in Legacy Business Park in Plano, north of Dallas. Bolner says Stream will undertake other ready-to-fit buildings in other markets, as demand dictates.
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