Skybox Data Centers May Withdraw from $17.4 Million Land Purchase
Skybox Data Centers is reconsidering a $17.4 million land purchase approved by the City Council, originally set at $50,000 per acre. Financing for data centers has become challenging, impacting capital availability from funders like BlueOwl. Skybox is requesting the city to instead negotiate a lease agreement.
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Skybox Data Centers is potentially backing out of a $17.4 million land purchase approved by the City Council, which was based on a rate of $50,000 per acre. Financing for data centers has faced difficulties, particularly due to challenges experienced by funder BlueOwl. As a result, Skybox is asking the city to reconsider the land sale and instead provide a more affordable lease option, which could lead to significant cost savings for the project while also affecting the city's financial returns from the transaction.
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