CHARLOTTE, N.C., Aug. 5, 2021 /PRNewswire/ -- Flexential, a
leading provider of data center colocation, cloud and connectivity
services, today announced it has entered into a leaseback agreement
with Legacy Investing and Invesco Real Estate. The deal will enable
a 130,000 square foot expansion of Flexential's state-of-the-art
Plano, Texas facility, more than
doubling capacity at that data center to over 260,000 square feet
and bringing Flexential's Dallas
market capacity to over 432,000 square feet.
This agreement follows a recent sale-leaseback partnership with
Legacy Investing and Invesco Real Estate for Flexential's
Hillsboro 3 data center in
Portland in April 2020. The continued support of Legacy
Investors and Invesco Real Estate demonstrates the value of the
Flexential brand overall and its franchise in the Dallas market.
With rapidly growing demand for data center services in
Plano and the broader Dallas market, the partnership between
Flexential, Legacy and Invesco Real Estate will enable Flexential
to quickly and efficiently bring this project to market while
giving Legacy and Invesco Real Estate an excellent investment
opportunity.
"Our continued partnership with Legacy Investing and Invesco
Real Estate allows Flexential to expand at an even faster rate to
meet heightened demand in hypergrowth markets such as Plano, Texas and Portland," said Chris Downie, CEO, Flexential. "We are
committed to continued investment in the 38 highly connected data
centers in our platform of hybrid IT infrastructure solutions and
are pleased that this partnership is enabling us to realize quick
and efficient growth."
"We are pleased to continue our partnership with Flexential, a
national market leader, to meet the massive and growing demand for
data center services in the Dallas
region," said Jay Rappaport,
Legacy Investing CEO and co-founder. "This mutually beneficial
partnership is part of our broader focus on data center real estate
and will allow Flexential to concentrate its capital on operations
to maximize its returns."
"We are pleased to continue expanding our data center footprint
into a new market for Invesco Real Estate. Our continued
collaboration with Legacy and Flexential is representative of our
growing commitment to the data center sector. We look forward
to significantly growing these important relationships in the
future," said Joshua Siegel,
Managing Director, Transactions, Invesco Real Estate.
About Flexential
Flexential empowers the IT journey of
the nation's most complex businesses by offering flexible and
tailored hybrid IT solutions comprised of colocation, cloud,
connectivity, data protection, managed, and professional services.
The company builds on a platform of three million square feet of
data center space in 19 highly connected markets, and on the
FlexAnywhere™ 100GB private backbone to meet the most
stringent challenges in security, compliance, and resiliency. See
how Flexential goes beyond the four walls of the data center to
empower IT through an interactive map found
on www.flexential.com.
Flexential is a registered trademark of the Flexential Corp.
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About Legacy Investing, LLC
Headquartered in
Northern Virginia and founded by
seasoned technology company executives, Legacy Investing focuses on
mission critical real estate impacted by new technologies: digital
and physical supply chains, future workplaces, and life sciences.
Legacy's principals have leveraged this platform and their public
company C-level experience across the past two decades to complete
more than $2.75 billion in
transactions across 19 million square feet of data centers,
e-commerce distribution centers, cold storage, modern office
buildings, and life sciences facilities on behalf of select family
office and institutional investors. Legacy leverages its expertise
on technology's impact on tenant demand, site selection, and
leasing to target and position properties to meet those needs and
create long-term real estate value. For more information, see
www.LegacyInvesting.com.
About Invesco Real Estate
Invesco Real Estate is a
global leader in the real estate investment management business
with $83.2 billion in real estate
assets under management, 588 employees and 21 regional offices
across the U.S., Europe and
Asia (as of March 31, 2021). Invesco Real Estate has been
actively investing in core, value-add and opportunistic real estate
strategies since 1992. Invesco Real Estate is a business name of
Invesco Advisers, Inc., an indirect, wholly owned subsidiary of
Invesco Ltd. Invesco Ltd. is an independent investment management
firm dedicated to delivering an investment experience that helps
people get more out of life. NYSE: IVZ; www.invesco.com.
Contact:
Courtney Gaudet,
303-579-4353
courtney.gaudet@flexential.com
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SOURCE Flexential