| POSITION | VICE PRESIDENT CONSTRUCTION |
| REPORTS TO | Colin Clish, President |
| DATE | June, 2024 |
| MORE INFORMATION | https://pointonecorp.com/ |
| SEARCH CONTACT | Andy Lane – CFS Partners
M +1 414 807 4085 |
POINTONE OVERVIEW
Data Center Campuses – Infrastructure Ready
PointOne is a land and data center developer specializing in creating infrastructure-ready hyperscale data center sites and leveraging them into data center builds. They solve customers’ capacity planning challenges by making earlier investments in sites and shortening our customers’ time-to-market. PointOne ensures land is infrastructure-ready with appropriate zoning, master planning and utility infrastructure in place drastically reducing schedule and cost risk.
PointOne understands the deployment issues customers face and creates customized solutions to solve these issues, offering vetted land with planned utility infrastructure, scalability, and innovative data center design. PointOne campuses come retrofitted with power, water, and fiber requirements, minimizing time to market to deliver customized data center builds. Their team partners with customers to design build-to-suit facilities on vetted land and offers full turn-key data center solutions.
PointOne is engaged with Solomon Partners to find a long-term investment group to act as a partner for:
- Development of initial three scalable data center sites in Northern and Central Virginia.
- Ongoing site selection and site acquisition efforts to scale the p
This investment group will allow PointOne to scale their internal team and build competitive supply chain, sustainability and operations programs and take the next step to grow from land developers to data center owner/operators.
HISTORY
Co-founders and Partners Colin Clish and Keith Frieser both have deep histories in real estate development and foresaw the asset class of data centers as highly viable and valuable. They recognized their capital markets expertise applied to industrial real estate development success could be applied to the growing state of data center development.
2017: PointOne was founded by Colin Clish & Keith Frieser.
2018: PointOne acquired land in Remington (234-acres; 400MW critical capacity).
2018: PointOne acquired land in Virginia Beach, VA (11-acres).
2018: PointOne took on a family office partner, allowing PointOne to conduct required on-site diligence and pre-development work
2019/2020: Work on pre-development preparations for Remington and Virginia Beach sites.
2021: PointOne began working on our site in Ashburn, VA (26-acres in Sterling, VA). The site is in the Dominion Energy power transmission issue area in Loudoun County, so alternative power solutions were explored.
2022: On-going site work at Remington, Virginia Beach & Ashburn.
2023: PointOne tied up lands for our Richmond campus (250-acres in Charles City County) and began conceptual planning.
PointOne has progressed diligently in the acquisition of new sites to develop and now have a portfolio of offerings of shovel ready campuses to offer to the market. They see the data center market as maturing broadly into secondary markets and are well positioned to capitalize on their plans.
CHAPTER
PointOne chose their original sites with the theory that the market in Virginia would move further into central and southern Virginia as power constraints impacted Northern Virginia. This thesis was in fact correct and is coming to fruition. PointOne is leveraging their existing three sites (Ashburn, Remington, and Richmond) to launch a build to suit platform and are actively looking to acquire additional sites and begin the early pre-development process on those sites.
These market dynamics focus on access to high voltage power are occurring in all Tier 1 markets in the near to mid-term. PointOne leveraged their ability to identify and develop sites early and has evolved to a trusted turn-key developer. PointOne aims to streamline the data center development process from site identification to build-out, giving clients a competitive edge in speed to market in offering capacity.
CHARTER
PointOne specializes in developing infrastructure-ready sites, allowing customers to rapidly scale their deployment. Characteristics include –
– Long-lead development work underway
– Zoning, permitting, community engagement.
– Established utility and alternative power options.
– Vetted network connectivity options.
– Advanced diligence work
PointOne offers:
- Vetted Land: PointOne offers vetted land with the utility infrastructure and scalability required for data center development, allowing customers to mitigate the risk of land acquisition.
- Build-To-Suit: PointOne is dedicated to delivering data center solutions that best meet customer’s evolving needs, with a preference for build-to-suit options. PointOne may be open to powered shells on certain sites moving forward.
- Customized Solutions: Retaining flexibility to create customized solutions to solve customer’s deployment issues is a core tenant of PointOne’s business plan.
PointOne is foundationally positioned and poised for growth. With the addition of a few strategic executive hires the rate of success for leasing and new campus developments are expected to ramp up dramatically. PointOne is on the precipice of dramatic success, having positioned themselves in this market having solved the most pressing demands of their target market – available capacity with power.
CURRENT PORTFOLIO
PointOne’s current portfolio includes over 500-acres (and almost 1GW of leasable capacity)across 4 hyperscale campuses in Virginia, USA.
FEATURED PROJECTS
ASHBURN CAMPUS – Data Center Alley
26 Acres : Scalable to 108MW across 2 buildings
Buildings will be between 2-4 stories
Ability to build up 650,000 SF
Currently completing conceptual design
6-year project duration
234 Acres : Scalable to 440MW
50MW of Immediately available power
Shovel-ready for immediate construction
5 -7 year project duration
Customizable design and campus master planning
Multiple fiber providers running or adjacent to the site
Potential for large scale renewable generation
250 Acres : Scalable to 440MW
Proximity to E. Richmond Meta & QTS Campuses
Completing Pre-Development Work
5 – 7 year project duration
Site segmented into individual parcels for BTS data centers
On-site substations planned for up to 440MW of leasable capacity
Moving forward, site selection focuses on Tier 1 adjacent markets and aim to bank footprints (~200-300MW each) into 5-7 markets across North America.
LEADERSHIP TEAM
DON POLLARD
Director of Development
FINANCIAL PARTNER
PointOne is engaged with Solomon Partners (https://solomonpartners.com) to complete a financing raise to support our initial three projects and long-term growth. We are currently finalizing materials with the aim of going to market at the end of March 2024. Based on campus development leasing traction and pipeline, PointOne has its sights firmly set on a macro goal of a multibillion-dollar value creation.
Initial funding has been provided by family office capital. Further details related to the family office, balance sheet, and capital raise status and plans will be made available to candidate’s contingent on mutual agreement to proceed following initial conversations with Colin Clish.
COMPANY NEWS
Nov 2023 – Alleviating Data Congestion with the NAP of Virginia Beach
Aug 2023 – The Benefits of Vetted Land
July 2023 – Examining The Benefits of PointOne’s Data Center Offerings
Jan 2023 – Spotlight – Virginia Beach as a Growing Connectivity Hub
April 2021 – Construction work on PointOne Virginia Beach Data Center resuming
June 2020 – PointOne Launches 3 New Hyperscale Campuses in Virginia
May 2018 – Formal Launch of PointOne Development Corporation
PointOne Launches Hyperscale Data Center Division with $7.5B to Spend
VICE PRESIDENT CONSTRUCTION
The Vice President of Construction (VPC) will report to Colin Clish and oversee the strategic and practical delivery aspects of all construction for PointOne’s existing and future campus locations. The VPC’s charter is to provide the organization with high conviction that capital plans for campus development meet the investment thesis and remain in parallel with forecasts. The VPC will leverage their expertise in contributing to the collective vision shared by the investment team and shareholders. He/She will ensure the development of data center campuses meet the rapidly evolving and ever-changing definitions and demands of hyperscale customers. This will require executive oversight and synthesis of design, financing, procurement, product, sales, and operational inputs into a progressive and efficient delivery platform.
The Vice President Construction (VPC) will leverage his/her expertise with the executive team to build and expand high-quality, hyperscale single tenant and multi-tenant data center facilities into a world class platform. He/She will oversee and manage data center construction and be intimately aware of construction, commissioning, operations, and sustainability goals of all PointOne data center facilities to include:
– Lead the identification and management of key General Contractor relationships in building out and augmenting our data center properties.
– Coordinate and plan supply chain activities, participating with VP Hyperscale Engineering, in the management of major vendor relationships.
– Participate with design and engineering teams to ensure seamless delivery of new inventory.
– Participate with the executive team to continuously support new revenue growth requirements.
– Lead the land diligence efforts in qualifying potential new data center properties.
– Participate in facility diligence efforts in support of potential M&A opportunities.
– Develop and implement construction best practices.
– Identify process improvement and value engineered cost savings in constructing data center facilities.
– Lead and be held accountable for the construction of data center facilities against plan.
– Manage and positively influence key customer relationships, vendors, and partners in the build, procurement, commissioning, and turnover to Data Center Operations.
– Interface and align with corporate and local operations personnel to ensure delivery of appropriately designed customer solutions and to ensure quality-of-service delivery.
– Provide input into the annual corporate capital and expense budgeting and planning process.
– Continually seek industry and market information to provide PointOne with the knowledge necessary for further business development.
– Understands and practices performance management disciplines.
KNOWLEDGE AND COMPETENCIES
The VPC is expected to be both a data center subject matter expert and a business executive. Technical product knowledge in electrical and mechanical systems, building systems (BIM), DCIM, controls, contracts, and project management is expected. Executive characteristic and communication demands include:
– Explain the relevancy of information to executive team and board of directors.
– Plan, organize, and implement the delivery of major projects. Anticipate risk factors and identify issues in advance of critical problems developing.
– Perform well under crisis management.
– Negotiate effectively and command the respect of general contractors and vendors.
– Understand and implement preventive and predictive maintenance procedures.
– Solid analytical and decision-making skills to evaluate complex problems, including analyzing, comparing, and selecting the best solution for various circumstances.
– Strong understanding of data center design and construction practice and how it impacts delivery and SLA agreements.
– Financial acumen including the ability to create and understand budgets, financial analysis, and invoicing.
– Prioritize work based on business and customer demands, articulate concepts and ideas to a non-technical audience, and lead customer-requested business reviews and audits.
– Strong understanding of design characteristics, installation, and operation of all data center infrastructure systems including electrical, mechanical, life safety, controls, and security.
– Responsible attitude, ability to take initiative and ownership, and adapt in a fast-paced environment.
– Requires occasional to weekly travel to data center construction projects, partners, and customer locations.
KEY QUALIFYING CRITERIA
Data Center Construction – Evaluate the breadth and complexity of data center environments involved with.
– Provide project examples of the different projects you’ve been involved with. What is your philosophy on where data center construction is headed? What’s the roadmap?
– Track record of delivering data center build and expansion projects on schedule and on budget.
– Demonstrated command of the design-build theatre of engineers, contractors, suppliers, labor, safety, security, audit, and public / municipal authorities
Business Acumen – Growth oriented commercial disposition with innovative thought leadership and nuanced understanding of P&L, human capital leverage, resource allocation, and technology utilization.
Financial Acumen – Experience in a data center real estate invested environment with requirements for investor rates of return, asset acquisition, and platform standardization for value creation.
Executive Leadership – Demonstrated history of leading a team to consistently perform at or above plan. Share some examples of professional growth of talent from those who have worked on your teams.
Culture – Alignment of core values with PointOne’s vision, mission, and guiding principles which lead to excellence, fairness, and justice in the workplace. Compare and contrast cultures in which you’ve worked in the past.
WHY CONSIDER THIS OPPORTUNITY?
Chapter – The market is rife, and the table is set for an accomplished VPC to apply their formidable skills to a healthy and established business at its growth inflection point.
Impact – The VPC will put their fingerprint on a transformative business, impacting every stakeholder, from investors, to customers, partners, and employees.
Leadership – PointOne’s leadership credentials represent an attractive and impressive collegial environment to achieve their value growth plan. The SLT and Board are excited and convicted about their near term and future achievements together.
Culture – Effective performance in a formative growth chapter organization requires every member to possess pride of ownership, ambition, and conviction. Candor and transparency of communication at all levels is paramount.
Financial Strength – PointOne’s founders and partners have an extraordinary track record of identifying value, positioning themselves in the right market at the right time, and ensuring enduring success for leadership and employees.
Investment Partners – PointOne’s investment partners and Board members bring both credibility and experience necessary to effectively navigate the capital markets to identify the most productive financial partners to support future growth.
COMPENSATION
The compensation package for the VPC will be determined on a case-by-case basis, relative to the finalist candidate requirements. It will include a competitive base salary, annual performance bonus, comprehensive health package, and long-term incentive compensation in the form of equity based on project and performance milestones.
SEARCH PROCESS
Following a thorough exchange of company information, resume, and key qualifying criteria, CFS Partners anticipates recommending a short list of candidates to Colin Clish, President. Select finalists will have the opportunity to review additional information under NDA in order to prepare questions and present their strategic perspective. Upon mutual decision to proceed, we’ll connect finalists with additional members of the Senior Leadership Team and Board. A finalist will be selected and offer extended, the acceptance of which will be contingent upon positive references and background check.