June 6, 2017
The Sherman Economic Development Corp. (SEDCO) struck a deal with Thea Development LLC to sell approximately 90% of Sherman, TX’s Progress Park I. Thea Development plans to develop infrastructure for Cassini Gateway I, a site that can accommodate five data centers totaling more than one million square feet.
According to SEDCO, Thea Development will build one data center building a year, over the next five years, for approximately $200 million per facility, meaning a total capital investment of $1 billion. SEDCO President John Plotnik told the Sherman Herald-Democrat that the developer would also build a large substation and redundancy power. Cassini Gateway I is on Sherman’s south side, and adjacent to the 758-megawatt Panda Sherman Power Plant.
Progress Park is a 3,300-acre, master-planned business park under development by SEDCO. Progress Park I totals 186 acres.
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