Compass Buys Land in RTP, Nashville Markets

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An illustration of the exterior of a Compass Datacenters' facility. The company said today that it has bought land in North Carolina and Tennessee for its first two campuses. (Image: Compass Datacenters).

Compass Datacenters has completed the acquisition of real estate parcels for its first two data center campuses, one in Research Triangle Park in Durham, North Carolina and another in Franklin, Tennessee, a suburb of Nashville.

Compass just lined up a $45 million credit facility from KeyBank, and will use the money to finance an “aggressive” growth plan to build wholesale data centers in second-tier markets. The company says it has been scouting cities with successful colocation and managed hosting providers.

Research Triangle Park is an active market for technology firms and home to major data centers for companies including IBM, Cisco, EMC and NetApp. The property in Durham is a 16.5 acre parcel of land, where Compass has received approval to develop three 1.2 megawatt data centers on the site.

Franklin is a town of 60,000 about 20 miles  The property in Franklin is an undeveloped 14.6 acre parcel of land, where Compass has planning approval from local authorities to develop five 1.2 megawatt data centers.

“These real estate acquisitions are a major milestone for Compass Datacenters," said Chris Crosby, Founder and CEO of Compass Datacenters. "These properties will be the site of our first data center campuses, and they are ideally situated to serve markets where there is significant unmet demand for the wholesale data center solutions we offer.

“Nashville and Research Triangle Park are perfect examples of emerging data center markets that are under-served by traditional wholesale providers," Crosby added. "These markets are populated by fast-growing companies whose IT needs align perfectly with our standalone data center product, and we are having productive dialogues with potential customers that are excited about how we can provide a ‘no compromises’ solution to their data center challenges.”