Prologis set for Plano

A new business park called Prologis will be developed on an NTT Data Services Data Center  according to a Data Center Dynamics article from June 23. They say, 


“Prologis is planning to develop an industrial warehouse park on the site of an NTT Data services data center and office complex.


Prologis has told DCD that NTT will remain a tenant of the site, but didn’t say if the existing data centers would be retained or replaced.


NTT sold the 1 million-square-foot office and tech complex at 2300 W. Plano Parkway to GI Partners in early 2019. Terms of the deal were not disclosed, but NTT Data was due to lease back the property – including two data center buildings – on a ‘long-term basis’.


NTT Data acquired the complex in 2016 when it bought the former Perot Systems IT services operation from Dell in a deal valued at more than $3 billion. Dell had acquired the company in 2009 for $3.9 billion.”


To make things grander, Prologis—an owner of over hundreds of warehouses in DFW—has invited its competitor Duke Realty for the development of the industrial park according to a Dallas Morning News article from June 21. They say, 


“Prologis has agreed to pay $26 billion to acquire competitor Duke Realty.


Prologis owns more than 200 D-FW warehouses with almost 40 million square feet of space. The D-FW metro area is one of the largest markets for the commercial property firm, which has about 1 billion square feet of industrial real estate worldwide.


Indianapolis-based industrial and office builder Duke Realty owns more than 17 million square feet of North Texas industrial space in 45 properties.


Duke Realty and Prologis are both active developers in D-FW, which leads the nation with more than 56 million square feet of industrial building activity.”


This soon to rise business park is currently one of the largest industrial developments in the Dallas-Fort Worth area.


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