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Real estate investment management firm Town Lane and PowerHouse Data Centers have completed the purchase of 122 acres in Charlotte, N.C., to build a 2.5 million-square-foot data center campus.

The joint venture partners plan a five-building development that will have 300 MW of secured power by April 2027, with the potential to increase to 500 MW. The site is less than 10 miles from downtown Charlotte and has convenient access to the nearby intersection of I-485 and Highway 49.