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Highlights
San Francisco-based GI Partners acquired a data center in Elk Grove for $750 million, marking what may be the year’s most expensive commercial real estate deal in the area.
The seller, a subsidiary of HMC Capital, purchased the 189,000-square-foot facility for $712 million in late 2024, acquiring it as a warehouse with a clause to convert it into a data center.
The transaction highlights Elk Grove's status as the "Data Center Capital of the Midwest," with the village attracting significant investment and benefiting from increased permit and tax revenue.