PHOENIX — Lincoln Property Company announced the purchase of a partially-occupied data center in Chandler on Friday.
The Dallas-based company expects to built out the vacant space of the commercial real estate property and install a cooling system that they say could save millions of gallons of water monthly.
“This facility will add critical turnkey capacity with immediately available utility power,” Lincoln Property Company National Data Center Group Leader Ryan Sullivan said in a release. “It’s a rare combination that we look forward to delivering as part of our ongoing value-add data center strategy.”
Lincoln Property Company expects the property to be ready for lease in the first quarter of 2026.
The property is located near the intersection of Loop 101 and Loop 202 off Frye Road and was previously owned by the Lincoln Property Company from 2018-2019.
“We originally purchased and managed this facility to achieve its highest and best use,” Lincoln Property Company Senior Executive Vice President David Krumwiede said.
CBRE were the sellers of the property. They note in the release that metro Phoenix ranks as the nation’s fourth largest data center market and vacancy rates for such buildings are under 2%.
The facility on Frye Road is the newest addition to the Lincoln Property Company’s Phoenix portfolio, which is now measured at 23.2 million square feet of space in commercial real estate properties like Park303, Luke Field, Goodyear AirPark, Union and the Grand at Papago Park Center.
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