Data center site in Faribault fetches $4.5 million
Steele-Waseca Cooperative Electric to experience future load growth as a result
A farm site marketed by Faribault officials for new development is poised to be the future home of a 500,000-square-foot data center in the city.
Archer Datacenters SPE2 LLC of Chappaqua, New York, paid $4.5 million for the 87.6-acre property at 15339 Acorn Trail, which is just south of 150th Street West and east of Interstate 35, according to a certificate of real estate value made public Friday, Nov. 29. The seller is Faribault-based PK LaRoche LLP.
Jordan Milman, chairman and CEO of Archer Datacenters, LLC, said the conceptual plan for the site, subject to change, is for a “footprint of up to 500,000 square feet across multiple potential data center buildings, and up to 120 MW of power.”
“After looking at numerous sites across the greater Twin Cities region, the Faribault site proved ideal for a number of reasons, perhaps most notably the reception of…the folks at the city, as well as the collaborative approach to power procurement that we are undertaking with Steele-Waseca Co-op Electric and Great River Energy,” Milman said in an email.
“Next steps for us are to continue our design, entitlement, and permitting processes. We are very excited to become a part of the robust business climate and community of Faribault.”
Archer Datacenters declined to comment on the project timeline or employment projections.
(Courtesy: Finance & Commerce)
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