{"id":1004661082,"date":"2023-05-05T05:37:42","date_gmt":"2023-05-05T13:37:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004661082"},"modified":"2023-05-05T06:18:04","modified_gmt":"2023-05-05T14:18:04","slug":"prime-debuts-in-phoenix-with-2b-data-center-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/","title":{"rendered":"Prime to Debut in Phoenix With $2B Data Center Campus"},"content":{"rendered":"
\"\"<\/a>

Prime Phoenix. Image courtesy of Prime Data Centers<\/em><\/p><\/div>\n

New hyperscale data centers are coming to metro Phoenix as Prime Data Centers <\/strong>is getting ready to develop its first facilities in the market.<\/p>\n

The company plans to invest $2 billion in the construction of a 210-megawatt, five-building campus that will span 1.3 million square feet in Avondale, Ariz. The first facility, to provide 42 megawatts of critical IT power, is expected to come online in 2025\u2019s third quarter.<\/p>\n

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READ ALSO: READ ALSO: <\/strong>What 2023 Will Bring for Data Centers<\/a><\/p>\n

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\u201cPhoenix continues to maintain strong supply and demand fundamentals due to its attractiveness to top hyperscale and wholesale data center buyers,\u201d Executive Vice President of Acquisitions Chris Sumter told Commercial Property Executive. <\/em>\u201cVacancy remains low, while the market had the third-highest wholesale absorption of 2022,\u201d Sumter added.<\/p>\n

Prime is currently working on several other expansions across primary and secondary U.S. markets. Last year, the company announced new developments in Silicon Valley<\/a> and Los Angeles<\/a>. In 2021, Prime started working on its first project outside California, a $1 billion campus<\/a> in Chicago.<\/p>\n

The upcoming Prime Phoenix campus<\/h2>\n

In April, Prime paid $28.9 million for 66.5 acres at 11753 W. Lower Buckeye Road, according to Maricopa County public records. The same source shows that the company received two loans from Silver Point Finance\u2014a subsidiary of Silver Point Capital<\/strong>\u2014valued at $22.2 million and $59.8 million.<\/p>\n

At full build-out, Prime Phoenix will comprise two-story, 260,400-square-foot high-density data centers. Each building will have 120,000 square feet of white space spread across 12 data halls.<\/p>\n

Prime is planning to use a closed-loop cooling system, which is estimated to save millions of gallons of water per year when compared to evaporative systems. Customers will have access to 100 percent renewable energy.<\/p>\n

The developer estimates that economic growth will be generated in the form of hundreds of permanent and temporary construction jobs created with the project\u2019s construction.<\/p>\n

Part of a master-planned technology hub<\/h2>\n

Prime acquired the land from TGV Investments Voting Trust and Rexco DC LLC. The two Phoenix-based companies submitted a rezoning proposal back in 2021 for 308.9 acres of land dubbed Hermosa Ranch Technology Campus with the intent of developing data centers, but the plan initially received backlash from local authorities due to concerns about water usage and noise. A revised version was later resubmitted and approved, according to reporting by AZBEX.<\/em><\/p>\n

In addition to data centers, Hermosa Ranch will also be home to a massive battery storage project. Power provider Salt River Project<\/strong>, together with Plus Power, announced last month that it will break ground on a 250-megawatt facility which will take shape adjacent to Prime\u2019s upcoming campus.<\/p>\n

Phoenix, a solid data center market<\/h2>\n

Phoenix\u2019s data center market vacancy dropped 350 basis points year-over-year, to 8.5 percent as of December 2022, according to a CBRE report. Absorption increased by 14.5 megawatts over the same period.<\/p>\n

Sumter told CPE <\/em>that Phoenix\u2019s market fundamentals remain strong both in the short and long term. \u201cWith modern workloads such as AI and high-performance computing increasing in popularity, the need for high-density data center capabilities will continue to grow,\u201d he added.<\/p>\n

Other notable developments in the market include STACK Infrastructure<\/strong>\u2019s upcoming 230-megawatt campus in central Phoenix, which was announced in November last year. According to Data Center Dynamics<\/em>, Vantage Data Centers <\/strong>has also recently acquired 34 acres in Glendale, Ariz., for an upcoming project.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property will total 1.3 million square feet across five buildings.<\/p>\n","protected":false},"author":1284,"featured_media":1004661087,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21755,21782,21742,1601,15],"tags":[32789,51163,52014],"class_list":["post-1004661082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-centers","category-development","category-latest","category-phoenix","category-west","tag-cbre","tag-prime-data-centers","tag-silver-point-capital"],"acf":[],"yoast_head":"\nPrime to Debut in Phoenix With $2B Data Center Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Prime Data Centers will construct a 1.3 million-square-foot data center campus in metro Phoenix, estimated at $2 billion in development costs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prime to Debut in Phoenix With $2B Data Center Campus\" \/>\n<meta property=\"og:description\" content=\"Prime Data Centers will construct a 1.3 million-square-foot data center campus in metro Phoenix, estimated at $2 billion in development costs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-05T13:37:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-05T14:18:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Prime-Phoenix-e1683287199518.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2396\" \/>\n\t<meta property=\"og:image:height\" content=\"1795\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tudor Scolca\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/\",\"name\":\"Prime to Debut in Phoenix With $2B Data Center Campus - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Prime-Phoenix-e1683287199518.jpg\",\"datePublished\":\"2023-05-05T13:37:42+00:00\",\"dateModified\":\"2023-05-05T14:18:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/daae3daa7b99fdfb75a85cb3cd92a26d\"},\"description\":\"Prime Data Centers will construct a 1.3 million-square-foot data center campus in metro Phoenix, estimated at $2 billion in development costs.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/prime-debuts-in-phoenix-with-2b-data-center-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Prime-Phoenix-e1683287199518.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/05\/Prime-Phoenix-e1683287199518.jpg\",\"width\":2396,\"height\":1795,\"caption\":\"Prime Phoenix. 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