Flexential Partners with Legacy Investing and Invesco Real Estate on 130,000 Square Foot Expansion in Plano, Texas
Flexential, a leading provider of data center colocation, cloud and connectivity services, 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.
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