SB Energy purchases former 3M campus at River Place Blvd., according to Austin Business Journal

Austin Business Journal is reporting that SB Energy purchased the 1.1 million-square-foot Highpoint 2222 campus at 6801 River Place Blvd.

Staff Reports

Austin Business Journal is reporting that SB Energy purchased the 1.1 million-square-foot Highpoint 2222 campus at 6801 River Place Blvd., which was extensively renovated Karlin Real Estate a couple of years ago.

SB Energy, a SoftBank Group company, is growing to become a leading development and execution partner for data center campuses, according to its website.

The website goes onto say: SB Energy delivers reliable and secure data center and power infrastructure to strengthen America’s future. Founded in 2019, SB Energy is a fully integrated infrastructure development and ownership platform combining strong execution with expertise in project development, construction, engineering, supply chain, financing, power marketing, and asset management.

The Real Deal Real Estate News publication stated on March 20:

New filings tied to the redevelopment of Highpoint 2222, the former 3M campus at 6801 River Place Boulevard, near the intersection of RM 2222 and RM 620, suggest Silicon Valley-based SB Energy may be involved in a massive revamp of the 1.1 million-square-foot property. The connection comes via a recent fiscal surety filing linked to an SB Energy affiliate, adding weight to speculation about the identity of a previously unnamed tenant tied to a $610 million project at the site.

The Austin Business Journal reported first about Texas Department of Licensing and Regulation filings in late 2025 that revealed plans for “extensive interior buildouts and infrastructure upgrades to accommodate a 234,000-square-foot user, codenamed ‘Cosmos.'”

A separate site plan application outlined sweeping electrical improvements that could point to a data center, according to ABJ.

“At Highpoint, the proposed work includes upgrades to substations, private electrical systems and utility connections running across the campus, all pointing to a tenant with outsized power needs, the outlet reported. The improvements would complement an existing on-site utility plant, potentially transforming the aging office park into a high-capacity digital infrastructure hub,” ABJ stated.