P
rologis, the global leader in logistics real estate, has sold a high-capacity data center development in its Chicago market to HMC Capital. The facility, developed in partnership with Skybox Datacenters, features a marketed capacity of 32 megawatts (MW) and is held in Prologis' U.S. Logistics Fund.

    Warehouse conversions and ground-up development are key components of Prologis' data center strategy. "We see significant potential for warehouse conversions in strategic markets and properties within our portfolio," said Dan Letter, president of Prologis. The company's unique data center platform enables it to capitalize on this growth opportunity while delivering outsized returns to investors.

    Prologis has rapidly scaled its power procurement to support demand for new data center development, securing 1.6 gigawatts (GW) globally and another 1.4 GW in advanced stages of procurement. The company is also expanding its in-house data center team with industry veterans Chris Curtis and Laramie Dorris.

    "We're working closely with hyperscalers and generative AI thought leaders to meet their growing data center needs," said Chris Curtis, global head of data centers for Prologis. "Our expertise and portfolio of warehouses enable us to identify high-value conversion opportunities across our 5,600 buildings and 12,400 acres of land."

    HMC Capital CEO David Di Pilla stated: "We're proud to acquire this world-class turnkey data center in a tier one market with long-term contracted cash flows. This will be a flagship asset for our DigiCo Infrastructure REIT, which targets high-quality data center assets across the risk-return spectrum."

    Skybox Datacenters CEO Rob Morris added: "The data center industry is experiencing unprecedented growth driven by the demands of today's digital economy. Our partnership with Prologis has delivered a world-class facility in Illinois, and we're committed to exceeding our customers' expectations as we build our next generation of PowerCampus solutions."

    Prologis expects to develop approximately 20 data center opportunities and invest $7-8 billion over the next four years.