GI Partners Alpharetta (former Ascent ATL1) data center, Alpharetta, Georgia

GI Partners bought the data center at 4905 North Point Parkway in Alpharetta, Fulton County, Georgia, for $253 million in October 2025, according to court records reported by Bisnow. The seller, Principal Asset Management, describes it as a 15.2-megawatt, 185,000-square-foot single-story building on 39 acres. The deal changes only the building's owner; it keeps operating for its two tenants.

The site is leased to two unnamed tenants, a Fortune 100 financial services company and a high-performance computing company. Principal says it raised the power capacity to 15 megawatts and that land next to the building would allow more expansion if a future owner wanted it. "We substantially increased the site's power capacity, further meeting the demand of today's tenants," said Devin Chen of Principal Asset Management. The companies involved declined to comment on the deal, according to Bisnow's reporting.

The building went up in 2009 for the phone maker BlackBerry, with an initial design for 4 megawatts of power. Ascent bought the building from BlackBerry in 2017 for $30 million, with help from TowerBrook Capital Partners, and named it ATL1.

In 2018 Ascent hired JLL to market about 34,000 square feet of available space and said the site could expand to 30 megawatts in two phases. A fund managed by Principal, working with Lincoln Rackhouse, bought the building in August 2022 for about $63 million, before selling it to GI Partners in October 2025.