Vantage Launches $3B Nevada Campus
The development will meet critical demand for AI capacity.
Vantage Data Centers is planning to develop a 224 MW data center campus in Storey County, Nev., just outside Reno. The first data center building on the 137-acre campus, called NV1, is slated to go online in the second quarter of 2026.
The NV1 campus will include four data centers totaling roughly 1 million square feet. Two of the facilities are already leased to unspecified clients.
Designed to meet the needs of AI, NV1 will support densities ranging from 360W to more than 720W per square foot, according to Vantage. The facility will be able to support both traditional air-cooled compute loads as well as GPU loads using liquid cooling. It will feature N+1 electrical redundancy and N+2 mechanical redundancy.
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NV1 is aiming to achieve low water usage effectiveness due to a closed-loop chiller system that minimizes the need for large volumes of water for cooling. The campus is also expected to achieve LEED certification.
Nearly $3 billion will be invested in the project, Vantage noted. The development is the first in northern Nevada for the company, which also has North American data centers in Virginia, Ohio, Arizona, California, Quebec and Washington state, as well as facilities in Europe, East Asia and South Africa.
The company recently received $5 billion in financing to further its expansion. Some of that total is funding the development of the firm’s campus in New Albany, Ohio, while the remainder has augmented the company’s credit facility.
All go for data center development
Among all commercial real estate asset classes, industry executives feel the second-most optimistic about data centers, after multifamily, according to a recent survey by DLA Piper. There is a solid reason for that sentiment: unrelenting demand for data worldwide.
The global data center market is likely to expand by 15 percent each year through 2027, according to JLL, based on developments currently under construction and planned. It could be more, however, with a potential for 20 percent growth each year through 2027, the company noted.
AI is a main demand driver for data centers, and it is likely to remain so as AI applications expand across nearly all industries, JLL noted. Data center development will continue to cluster in certain places (such as northern Nevada) where power, land, infrastructure and talent are all available.
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