Tishman Speyer targets data centres and acquires first site

[Image: Imgix/Unsplash]

Tishman Speyer has acquired a 75,000 sq m site in Frankfurt’s Ostend district from Samson AG where it will develop sustainable data centres and inner-city industrial and logistics space.

The project is Tishman Speyer’s first data centre venture. Frankfurt has one of the world’s most important Internet nodes (DE-CIX). The planned development will initially have computing power of 32 MW which could be expanded to 70 MW in future.

Tishman Speyer said in a statement that it has identified data centres as “one of the most important target sectors for future investments” for several years.

The company has also signed an agreement with data centre developer and operator Mainova WebHouse, a subsidiary of Frankfurt energy supplier Mainova, which now has the option of contributing expertise as a joint venture partner with Tishman Speyer.

The site will also be the location of the developer’s first industrial and business park development in Germany. It is located close to downtown Frankfurt. Plans include an urban business park with several buildings including a self-storage building and craftsmen’s yards.

Samson AG, which makes industrial valves, is moving to a new location in nearby Offenbach and has sold its Ostend site in two tranches. The first sale was in early April when power network operator Tennet bought about 50,000 sq m of land and buildings. Negotiations with Tishman Speyer began in January 2023.

“With this project, we are bringing urgently needed data center capacity to the market – at a time when the need for computing power through AI is greatest. This transaction is a model for us for further investments in this growth segment,” Rob Speyer, CEO of Tishman Speyer said.