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ataBank is expanding its presence in the Dallas area with a new $256 million facility, dubbed "DFW10," at its 292-acre data center site in Red Oak. The two-story building, designed by JHET Architects and set to break ground in February, will span 425,000 square feet along Stainback Road and be completed by July 2028. With an estimated cost of $602 per square foot, the project is expected to significantly boost North Texas' growing data center market.

    The development comes on the heels of DataBank securing a major financial backing from global investors, including a $1.5 billion investment from an Australian fund. This influx of capital solidifies DataBank's position as a key player in the region and underscores investor confidence in the company.

    Red Oak has emerged as a significant data center hub, attracting prominent players like Google and Compass Datacenters. Google is building a $600 million facility to enhance its digital services, while Compass Datacenters is expanding its operations with three new data centers valued at an estimated $300 million. The DFW metro now boasts 591 megawatts of data center capacity, making it North America's second-largest market, according to CBRE.