CBRE announced it represented TMGcore, a blockchain technology company, in its acquisition of a cryptocurrency mining facility in Plano, Texas.
CBRE’s R. Haynes Strader, Jr., Senior Associate, Brant Bernet, Senior Vice President, and Chris Herrmann, Senior Vice President, represented Pinchal & Company, LLC and its tenant, TMGCore, in its acquisition of the facility from Dallas-based Skybox Data Centers. At more than 150,000 sq. ft. and fully capable of a 100-megawatt (MW) live power load, TMGcore’s mining operation will be one of the largest independently owned facilities in the United States. Construction commenced in April 2018 and the first phase is expected to be complete in July 2018.
“Blockchain is having a significant impact on real estate around North America, primarily related to cryptomining operations,” said Mr. Strader. “We were pleased to have the opportunity to advise TMGcore on its real estate strategy for this exciting and innovative project.”
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