1606 Corp. Secures Agreement for Texas Property Acquisition
On March 17, 2026, 1606 Corp. announced it has executed a Purchase and Sale Agreement to acquire a 132-acre property in Lufkin, Texas, which includes an existing power generation facility and infrastructure suitable for large-scale data center development, with a total purchase price of approximately $11.2 million consisting of cash at closing and the assumption of an existing lien. According to GlobeNewswire PE, the property features approximately 132 acres of land, improvements, equipment, and associated development rights, along with a 50,000-square-foot warehouse designed to support rapid deployment of data center infrastructure.
Property Details and Valuation
The property includes a power generation asset that was valued at $164 million in the most recent CBRE report, making it well positioned for data center deployment with on-site power support. 1606 Corp. has made a substantial earnest money deposit as part of the agreement, and the company has received initial inbound interest from data center operators regarding potential power supply and facility lease arrangements. The site’s combination of acreage, infrastructure, and power availability, as stated by management, makes it suitable for high-density computing and data center development, including land, improvements, equipment, permits, and development rights.
CEO Statement and Transaction Timeline
Austen Lambrecht, CEO of 1606 Corp., noted that the acquisition represents an important step in the company’s strategy to secure power-backed infrastructure for next-generation data center deployment, highlighting that properties with large acreage and existing power infrastructure are increasingly difficult to secure. The transaction is expected to close on April 15th following completion of customary closing conditions and due diligence. According to GlobeNewswire PE, 1606 Corp. is also in advanced negotiations to acquire Sim Agro Inc., a privately held power-plant operations company, which is expected to operate the power generation facility after the deal closes.
Future Developments and Company Background
Following the potential acquisition of Sim Agro, the company anticipates using it to manage the power generation at the property, aligning with its focus on energy infrastructure for digital applications. 1606 Corp., as described in the announcement, stands at the forefront of technological innovation, particularly in areas like data centers and power-intensive projects. As widely known in the technology sector, demand for data center infrastructure has grown due to increasing digital needs, though this acquisition specifically targets a site with ready power capabilities. According to GlobeNewswire PE, the property provides a strong foundation for future development and strategic partnerships.
