Centersquare: Leading Data Centre Growth and Strategy
Earning the number 11 spot in the 2025 Top 100 Data Centre Companies list from Data Centre Magazine, Centersquare is emerging as a data centre platform with growing scale and influence. The ranking follows a year of acquisitions, refinancing and a clear shift into high-density computing services.
Business model and service offering
Centersquare was founded following the April 2024 merger of Dallas-based Evoque Data Center Solutions and Cyxtera Technologies, creating a platform focused on colocation and connectivity services across North America and the United Kingdom.
Its business model centres on offering space, power and connectivity for enterprise and hyperscale customers who prefer managed colocation rather than building their own data centres. The company currently operates 80 facilities following its most recent acquisitions.
Centersquare’s service mix emphasises high-density workloads, GPU-intensive computing and enterprise migration off-premises.
In announcing the recent expansion CEO, Spencer Mullee, said: “By adding capacity in strategic markets, we are positioning Centersquare to capture the surging demand for trusted, high-performance infrastructure.”
The company also guarantees a 100% uptime service level agreement (SLA) for its colocation services.
Expansion strategy and financing
In early October 2025 Centersquare announced the acquisition of 10 data centre assets across the United States and Canada at a combined enterprise value of US$1bn, increasing its portfolio to 80 sites. The deal included two former lease-assets in Boston and Minneapolis and eight additional facilities in Dallas, Tulsa, Nashville, Raleigh, Toronto and Montreal.
The strategy appears focused on adding power and space in tier-one and developing markets to cater for enterprise and hyperscale demand.
To fund its expansion the company also tapped the debt markets: in August 2025 it launched an US$815m asset-backed bond offering to support its portfolio growth. This refinancing underscores the capital intensity of data centre infrastructure and Centresquare’s willingness to mobilise capital for growth.
Positioning in the data centre market
The data centre sector is facing structural shifts from cloud to edge, and increasingly from cloud to on-premises or colocation due to AI and machine learning workloads.
According to consultancy analysis, global demand for data centre capacity could more than triple by 2030, with high-performance computing and AI among the biggest drivers.
Within that context, Centresquare’s emphasis on high-density infrastructure and its North America footprint place it in a strong strategic position.
As chair of the board, Udhay Mathialagan (also CEO of Brookfield Global Data Centers) commented: “Workloads are shifting – we’re seeing enterprises move off-premises, reconsider public-cloud strategies, and embrace AI-driven architectures that demand radically higher power densities.”
Such remarks reflect the operational challenge and market opportunity of scaling data centre infrastructure for new workloads.
Leadership and talent moves
In April 2025, Centresquare appointed Jason Carolan as Chief Development Officer to oversee portfolio growth, customer enablement and expansion activities.
At the time Spencer Mullee, CEO of Centersquare, said: “[Jason's] credentials and expertise fit perfectly with our leadership team laser-focused on delivering highly reliable data centres and colocation services backed by world-class customer care.”
This hire signals the company’s ambition to scale development and acquisitions at speed.
Global reach and sustainability
While the majority of its facilities are in North America, Centresquare lists the United Kingdom among its markets, reflecting trans-Atlantic connectivity and customer access.
By securing a ranking in Data Centre Magazine’s Top 100 and executing a US$1bn acquisition spree alongside a US$815m bond issuance this year, Centresquare has marked itself as a data centre operator with scale and ambition.
Its focus on high-density workloads, strategic markets and development capability defines a clear pathway for growth.
