Construction on new Elk Grove facility to commence in February 2021
Chicago, IL – December 8, 2020 – Stream Data Centers, an industry leader in providing customer-centric data center solutions to the Fortune 500, has announced the acquisition of a new 215,000-square-foot industrial property set for redevelopment in Chicagoland’s Elk Grove Village, Illinois. The new Chicago II data center will provide 30,000 SF of initial turnkey-ready capacity, with an ultimate total capacity of 120,000 SF and 32 MW. Construction is set to begin in February 2021, with early occupancy available for tenants in the third quarter of next year.
The new property is in close proximity to Stream Data Centers’ recently completed Chicago I facility. Elk Grove Village is one of the country’s main peering and interconnection markets and benefits from excellent infrastructure, outstanding access to all major cloud providers, robust network connectivity and affordable renewable power options. Stream’s newest Chicago-area data center also capitalizes on tax exemptions applied to data center construction and equipment by Illinois lawmakers in 2019. The state implemented the sales tax incentives to attract new IT and construction jobs while growing the digital economy in Illinois.
“Elk Grove Village understands the unique needs and complexities of developing large scale data center projects,” says Chris Kincaid, Stream’s SVP of Design and Construction. “That knowledge combined with ComEd’s infrastructure and reliable ability to deliver electric utility capacity gives us great confidence in our ability to deliver this large scale project in 2021.”
For Stream Data Centers, creating turnkey inventory beyond the shell is a top priority. “Our customers appreciate our commitment to delivering turnkey data center capacity, not just shell space, which helps them rapidly deploy and meet their project timelines,” explains Rob Kennedy, Stream’s Co-Managing Partner. “More than twenty years of experience serving the world’s most demanding IT organizations helps ensure that our facilities can serve both enterprise and hyperscale users with top-of-the-line data center capacity.”
About Stream Data Centers:
Stream Data Centers has provided premium data center services since 1999, with 90% of its inventory leased to Fortune 100 customers. To date, the company has acquired, developed and managed 24 data center campuses nationally, while leadership has remained consistent for all 23 years.
From site selection to data center construction and operations, Stream develops wholesale colocation capacity and build-to-suit solutions for hyperscale and enterprise users. Additionally, Stream sources and develops low-risk land sites for optimum data center development and provides energy procurement services with a focus on reducing market risk and providing low-cost renewable energy options. All of Stream’s facilities feature carrier-neutral, low latency connectivity to network and public cloud providers.
Stream Data Centers is the technical real estate subsidiary of Stream Realty Partners, a full service commercial real estate investment, development and services company. With $5.8 billion in annual transactions and over 270 million square feet of leased or managed commercial space in active markets coast to coast, Stream Realty Partners is one of the most successful commercial real estate firms in the country.