Stream Realty Announces San Antonio Project
Stream Realty Partners has become the latest data center developer to announce plans for a facility in the booming San Antonio market. The Dallas-based developer has acquired 33 acres in the Westover Hills area for a 150,000-square-foot data center. “The demand for data-center space is extremely strong,” Stream Realty managing director Paul Moser told the Express-News.
Westover Hills is already home to Microsoft’s 470,000-square-foot data center and a $60 million Lowe’s data center. San Antonio will apparently also get an NSA data center in a former Sony plant. The San Antonio Economic Development Foundation said it is working with five other companies looking at San Antonio for new data-center sites, including some speculators.
Dallas-based Stream Realty is a veteran of the data center real estate market. In recent years, the company has been buying and selling data center properties in California, including a Sprint facility in Santa Clara that sold for $95 million in 2005 and the former WorldCom data center that Stream Realty sold to Apple Computer in early 2006.
Stream Realty may be selling in California, but it’s building in Texas. The company’s plans for San Antonio could eventually include as much as 350,000 square feet of data center space. Stream Realty has a similar building under construction in Plano, a suburb of Dallas.