Legacy Investing Converts Vacant Offices into Data Centers Amid Rising Demand
Legacy Investing aims to convert vacant office buildings into data centers, anticipating a doubling of U.S. facilities by 2030. The firm recently acquired a Chicago property for $40 million, with plans for substantial power capacity by 2026.
Theia Market Signal Identification - AI Assisted
Legacy Investing has reported over $3 billion in transactions and currently manages over 20 million square feet of real estate. The firm purchased a former Cboe Global Markets headquarters in Chicago for $40 million, a significant increase from $12 million the previous year.
Plans include installing 33 megawatts of capacity by 2026. The trend toward adaptive reuse is facilitated by low vacancy rates in data centers and rising demand for digital infrastructure. However, Legacy faces challenges from public opposition and regulatory hurdles that may impact future expansion efforts.
Comments