Data Center Development Site Sells For $15 Million

A 6.25-acre development site in western Miami-Dade County has been sold for $15.35 million.

EdgeConneX, a data center developer and operator based in Herndon, Virginia, sold the property located within the Beacon Station business park to Flagler Building I LLC, an entity tied to Indianapolis-based Ambrose and its newest real estate fund.

The site, situated near the southwest corner of Northwest 106th Street and Northwest 112th Avenue—just west of the gas station at 10550 N.W. 112th Ave.—was previously acquired for $13.7 million in 2023. Despite no construction activity, the property appreciated in value.

EdgeConneX, through its subsidiary Edgeconnex Miami Holdings III LLC, had submitted plans in 2022 to develop a 145,700-square-foot data center on the parcel, though construction has yet to commence. The company has not disclosed whether it still intends to build on the site.

The buyer, Ambrose, is actively growing its data center and logistics portfolio. In March, the firm announced it raised $400.6 million for its Ambrose Fund IV, which targets investments in industrial, logistics, e-commerce, and data center assets. The fund has already begun construction on a dozen projects, including several in Florida, reflecting the rising demand for data centers fueled by the growth of AI technologies.

Source: SFBJ