Flexential, a retail colocation provider focused on the enterprise data center segment, which is backed by GI Partners, today announced its expansion plans for 2022, which contemplate adding 33 megawatts of power capacity through new data center development projects in the markets of Atlanta, Denver, and Dallas. In turn, Flexential intends to grow its total data center portfolio to comprise over 220 megawatts of power capacity and 3 million sqft, across 19 markets, by year-end 2022.
Data Center Expansion Plan for 2022 – Flexential
In 2022, Flexential is expanding in the markets of Atlanta, Georgia; Denver, Colorado; and Dallas, Texas; which together, will add 33 megawatts of power capacity to its data center portfolio:
Atlanta – Douglasville
Flexential has started construction on the first phase of a new data center located at 1700 North River Road, in Douglasville, Georgia. Specifically, the Douglasville data center development project is situated ~16 miles west of Atlanta, Georgia.
At full build-out, Flexential’s Atlanta – Douglasville data center will offer 22.5 megawatts of power capacity across 150k+ sqft of IT space (205k total sqft).
Denver – Englewood
During 2022, Flexential will add 4.5 megawatts of power capacity, through phased power increases, to its data center located at 8636 S Peoria Street in Englewood, Colorado. In turn, Flexential’s Denver – Englewood data center will offer a total of 11.25 megawatts of power capacity by year-end 2022. Additionally, the company notes that its Denver – Englewood facility has a 240.5k sqft data center footprint.
Per Flexential’s securitization financing (see below) disclosures, the Denver – Englewood facility has 48.8k sqft occupied out of its existing 138.8k sqft capacity. Indeed, this implies an occupancy rate of 35% for the data center. Additionally, the facility generates annualized revenue of $41.0m.
Dallas – Plano
In August 2021, Flexential announced a 130k sqft expansion of its data center located at 3500 East Plano Parkway in Plano, Texas. While Flexential did not provide details on the future power capacity additions to its Dallas – Plano facility, the company’s broader 2022 expansion plans infer a metric of ~6 megawatts. Additionally, the company notes that its Dallas – Plano facility has a 261.4k sqft data center footprint.
Per Flexential’s securitization financing disclosures, the Dallas – Plano facility has 24.8k sqft occupied out of its existing 149.5k sqft capacity. Indeed, this implies an occupancy rate of 16.6% for the data center. Additionally, the facility generates annualized revenue of $11.4m.
In 2022, Flexential is also investing in adding further direct access to all major public cloud service providers across its national private 100-gigabit per second (Gbps) backbone. In turn, customers can reduce their dependence on the public internet for cloud connectivity and, instead, utilize Flexential’s private network to access providers such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud.
Securitization Debt Financing – Flexential
In December 2021, Flexential issued $2.1bn in securitized notes, which were collateralized by 23 multi-tenant enterprise data centers in the United States, comprising 82.6 megawatts of critical load power across 1.3 million sqft of data center space. At the time, Flexential noted that one of the uses of the net proceeds from this debt financing was to fund data center development projects.