Flexential Acquires 2 Portland-Area Data Centers

Flexential has acquired two data center properties in Hillsboro, Ore., marking the largest transaction in the company’s history. The purchase included Hillsboro 4 and Hillsboro 5. T5 Data Centers sold the assets, according to Yardi Matrix.

Together, the two assets add 54 megawatts to the company’s expanding portfolio in the area. Hillsboro 4 totals 138,000 square feet with 18 megawatts while Hillsboro 5 is a two-story, 358,000-square-foot data center with 36 megawatts.

Both multi-tenant facilities are connected to Flexential’s campus network and FlexAnywhere Platform. This brings the company’s owned footprint in Hillsboro to 496,000 square feet.

Flexential, one of the industry’s one of the top data center developers, already owns and operates Hillsboro 1 and Hillsboro 2, while the company operates out of Hillsboro 3. In 2022, the company announced plans to expand the campus with an additional 54 megawatts of capacity through the development of two additional facilities.

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In September, the company purchased a separate parcel to develop its sixth data center, Hillsboro 6. At full buildout the asset will include a 350,000-square-foot, two-story facility with 27 megawatts of power.

Hillsboro 4 and 5 are located at 4915 NE Starr Blvd. and 4975 NE Starr Blvd., respectively. The location offers access to Route 26 and connects to Portland, Ore., approximately 20 miles away.

Flexential grows national footprint

While Flexential has established its presence in the Hillsboro-Portland area, the company is active across the nation. Outside of Portland, Flexential operates in 18 other markets including Las Vegas, Philadelphia, Dallas and Jacksonville.

Last May, the company expanded in the Atlanta market with its acquisition of a data center in Norcross, Ga. Flexential was occupying the 32,740-square-foot property before purchasing it from Mapletree Industrial Trust. Flexential also has properties in Alpharetta, Ga., and Douglasville, Ga.

Most recently, the company was looking to secure a $1.4 billion financing package backed by 28 data centers spanning 1.8 million square feet in March. The portfolio includes a mix of owned and leased facilities.