CloudHQ scoops 123 acres in San Antonio

Another company is joining San Antonio’s growing tech and research scene.

CloudHQ, a Washington, D.C.-based data center developer, acquired a 123-acre parcel on the western edge of Bexar County, across the street from Microsoft’s facilities, the San Antonio Business Journal reported.

CloudHQ, led by CEO Hossein Fateh, bought the land from the University of Texas System, which owns most of the land around Lambda Drive and Omicron Drive. Terms of the deal were not disclosed.

The firm’s exact plans for the site are unknown, but it is planning a four- or five-story building, according to a filing with Bexar County. CloudHQ considers itself a “hyperscale” developer with an international presence, the outlet said. 

Its other large-scale projects include a 2.7 million-square-foot data center in Santiago de Querétaro, Mexico, that is currently under development. The firm is also building a 1.5 million-square-foot facility worth $2.5 billion in Chicago. 

Microsoft continues to expand its presence near CloudHQ’s acquisition. It is building a $176 million, 153,000-square-foot data center, dubbed SAT40, at the Texas Research Park. Another 245,000-square-foot structure, worth approximately $216 million, is slated for completion in 2024.

Closer to the city center, UT Health San Antonio keeps adding to its Multispecialty and Research Hospital campus, investing $100 million toward a new Center for Brain Health last year after already spending $470 million on the project.

The highly anticipated Port San Antonio, a 1,900-acre technology campus near the Lackland Air Force Base, will likewise heighten the city’s status as a hub for innovation.

—Quinn Donoghue