{
  "reviewed": "2026-10-08",
  "baselineCount": 164,
  "finalCount": 168,
  "minimumDocuments": 4,
  "projects": [
    {
      "id": "flexential-parker",
      "title": "Flexential Parker / Compark",
      "location": "United States / Colorado / Parker — approximate locality pin",
      "region": "Colorado",
      "country": "United States",
      "subregion": "Colorado",
      "continent": "North America",
      "coords": [
        39.55,
        -104.82
      ],
      "precision": "Approximate Parker locality rounded to hundredths of a degree; not parcel, building or entrance coordinates",
      "company": "Flexential; CORE Electric Cooperative; Westside Investment Partners",
      "companyRoles": {},
      "status": "Construction documented by Parker in April and PBS in June 2026; energization and completion unverified",
      "stage": "Under construction",
      "readiness": "Under construction",
      "model": "Multi-tenant data-center campus",
      "capacity": "Planned 22.5 MW; 249,000 square feet; not delivered operating IT load",
      "milestone": "Reconcile delivery forecast, utility energization, occupancy and first customer service",
      "facts": [
        {
          "issuer": "Town of Parker",
          "publicationDate": "2026-04-13",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://parkerco.gov/m/newsflash/Archive/Item/2412?arcId=4065",
          "text": "Town notice states Flexential is under construction in the Compark area of north Parker. It is a public-information notice, not a building permit, occupancy certificate or energization record.",
          "kind": "Government record",
          "accessible": true
        },
        {
          "issuer": "Flexential",
          "publicationDate": "2024-05-14",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.flexential.com/resources/press-release/flexential-announces-flexanywhere-platform-expansion-new-state-art-data",
          "text": "Original disclosure plans a 249,000-square-foot, 22.5 MW facility on over 17 acres, supplied by CORE. Original 2026 opening target is not completion. Platform-wide CoreWeave/Applied Digital relationships do not establish Parker customers.",
          "kind": "Company disclosure",
          "accessible": true
        },
        {
          "issuer": "CORE Electric Cooperative",
          "publicationDate": null,
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://core.coop/community-partnerships-create-data-center-growth-in-douglas-county/",
          "text": "Utility says it will provide 22.5 MW from available capacity and describes collaboration with Parker, Westside Partners and Flexential. Page displays May 20 without a verified year in retrieved text. Future supply statement is not executed tariff/service terms or energization. Joint announcement is not independent journalism.",
          "kind": "Utility disclosure",
          "accessible": true
        },
        {
          "issuer": "Rocky Mountain PBS",
          "publicationDate": "2026-06-15",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.rmpbs.org/news/business-economy/parker-colorado-data-center",
          "text": "Original site reporting documents construction, February 2024 Compark Village Sixth Amendment zoning and community concerns. Reports $192 million project cost and January 2027 completion expectation; those are reported project figures/forecast, not closed financing or completion. Westside representative employment and franchise-fee forecasts remain attributed.",
          "kind": "Independent local reporting",
          "accessible": true
        }
      ],
      "power": null,
      "demand": null,
      "funding": null,
      "economics": "PBS reports a $192 million facility; no project-specific financing close verified. CORE identifies planned supply, but price, minimum billing, infrastructure cost allocation and acceptance date are undisclosed. Westside representative forecasts 30–50 jobs and $1.5–1.7 million annual town franchise-fee revenue; these are attributed forecasts, not operator earnings. Our analysis: revenue conversion depends on commissioned, occupied capacity, not footprint or utility availability alone.",
      "gaps": "Executed power terms, energization, current delivery date, committed tenants, lease rates, debt, utilization and site margin unknown.",
      "readinessBasis": "Town notice states Flexential is under construction in the Compark area of north Parker. It is a public-information notice, not a building permit, occupancy certificate or energization record.",
      "readinessSource": {
        "issuer": "Town of Parker",
        "publicationDate": "2026-04-13",
        "eventDate": null,
        "reviewed": "2026-10-08",
        "url": "https://parkerco.gov/m/newsflash/Archive/Item/2412?arcId=4065",
        "text": "Town notice states Flexential is under construction in the Compark area of north Parker. It is a public-information notice, not a building permit, occupancy certificate or energization record.",
        "kind": "Government record",
        "accessible": true
      },
      "reviewed": "October 8, 2026",
      "readinessReviewed": "2026-10-08",
      "evidence": [
        "Company disclosure",
        "Government record",
        "Independent local reporting",
        "Utility disclosure"
      ]
    },
    {
      "id": "coresite-de3-denver",
      "title": "CoreSite DE3 / Race Street campus",
      "location": "United States / Colorado / Denver — approximate locality pin",
      "region": "Colorado",
      "country": "United States",
      "subregion": "Colorado",
      "continent": "North America",
      "coords": [
        39.79,
        -104.97
      ],
      "precision": "Approximate Denver locality rounded to hundredths of a degree; not parcel, building or entrance coordinates",
      "company": "CoreSite; American Tower; Stonepeak",
      "companyRoles": {
        "AMT": "CoreSite parent; announced development JV participant through CoreSite. Site earnings not disclosed."
      },
      "status": "Company reported topping out October 2025; May 2026 independent reporting documents construction; no commissioning verified",
      "stage": "Under construction",
      "readiness": "Under construction",
      "model": "Multi-tenant data-center campus",
      "capacity": "First DE3 planned 18 critical MW; broader campus planned 60 critical MW, not operating load",
      "milestone": "First-building utility/customer acceptance; separate approvals for future buildings",
      "facts": [
        {
          "issuer": "City and County of Denver",
          "publicationDate": null,
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://denver.legistar.com/LegislationDetail.aspx?GUID=8888E6F2-D221-4CBE-80FD-4361184BFD64&ID=7051263&Options=&Search=",
          "text": "File 24-1084, created August 16, 2024, proposes CoreSite LP revenue-return agreement up to $9 million through June 30, 2039 (OEDEV-202475137). Status tabled; final action blank. Postponements August 28 and October 2 do not establish approved incentives or construction authorization.",
          "kind": "Government record",
          "accessible": true
        },
        {
          "issuer": "CoreSite",
          "publicationDate": "2025-10-06",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.coresite.com/news/coresite-achieves-key-construction-milestone-for-new-de3-data-center-in-denver",
          "text": "Company reports topping out DE3 at 4900 Race Street, a planned 180,000-square-foot facility targeting 2026 availability. Broader campus approximately 600,000 square feet / 60 critical MW is a future envelope. First building is separate from downtown DE1/DE2.",
          "kind": "Company disclosure",
          "accessible": true
        },
        {
          "issuer": "DatacenterDynamics",
          "publicationDate": "2024-08-01",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.datacenterdynamics.com/en/news/stonepeak-and-coresite-form-jv-for-denver-data-center-development/",
          "text": "Reports announced Stonepeak/CoreSite JV: expected 85%/15% equity, first DE3 facility 18 MW in three 6 MW phases, estimated development cost over $250 million. Based substantially on issuer announcement; not independent verification of financing close, spend or current ownership changes.",
          "kind": "Independent specialist reporting",
          "accessible": true
        },
        {
          "issuer": "Denver Gazette",
          "publicationDate": "2026-05-19",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.denvergazette.com/2026/05/19/denver-halts-new-data-centers-for-12-months/",
          "text": "Original council reporting, updated May 20, says existing DE3 construction is unaffected by the new moratorium while future two buildings face regulations. Covers community objections. Caption dimensions differ from company figures; neither implies delivered IT capacity. No approved $9 million incentive established.",
          "kind": "Independent local reporting",
          "accessible": true
        }
      ],
      "power": null,
      "demand": null,
      "funding": null,
      "economics": "DCD reports expected 85% Stonepeak and 15% CoreSite equity in the announced development JV, estimated first-building cost over $250 million, delivered in three 6 MW phases. These are disclosed deal structure and estimates, not independently verified funding close or actual spend. AMT economic exposure is through CoreSite; site-level earnings undisclosed. Denver’s up-to-$9 million incentive proposal is tabled, not verified awarded.",
      "gaps": "Current executed JV terms, funding drawdowns, tariff/service terms, operating MW, tenant contracts, occupancy and future-building approvals unknown.",
      "readinessBasis": "Original council reporting, updated May 20, says existing DE3 construction is unaffected by the new moratorium while future two buildings face regulations. Covers community objections. Caption dimensions differ from company figures; neither implies delivered IT capacity. No approved $9 million incentive established.",
      "readinessSource": {
        "issuer": "Denver Gazette",
        "publicationDate": "2026-05-19",
        "eventDate": null,
        "reviewed": "2026-10-08",
        "url": "https://www.denvergazette.com/2026/05/19/denver-halts-new-data-centers-for-12-months/",
        "text": "Original council reporting, updated May 20, says existing DE3 construction is unaffected by the new moratorium while future two buildings face regulations. Covers community objections. Caption dimensions differ from company figures; neither implies delivered IT capacity. No approved $9 million incentive established.",
        "kind": "Independent local reporting",
        "accessible": true
      },
      "reviewed": "October 8, 2026",
      "readinessReviewed": "2026-10-08",
      "evidence": [
        "Company disclosure",
        "Government record",
        "Independent local reporting",
        "Independent specialist reporting"
      ]
    },
    {
      "id": "qts-aurora-denver",
      "title": "QTS Aurora–Denver DEN1",
      "location": "United States / Colorado / Aurora — approximate locality pin",
      "region": "Colorado",
      "country": "United States",
      "subregion": "Colorado",
      "continent": "North America",
      "coords": [
        39.73,
        -104.71
      ],
      "precision": "Approximate Aurora locality rounded to hundredths of a degree; not parcel, building or entrance coordinates",
      "company": "QTS Data Centers; Blackstone",
      "companyRoles": {
        "BX": "Owner of QTS; campus-level capital contribution, financing and earnings undisclosed."
      },
      "status": "July 2026 site reporting documents phased buildout; full campus commissioning unverified",
      "stage": "Under construction",
      "readiness": "Under construction",
      "model": "Multi-tenant data-center campus",
      "capacity": "Operator plans 160 MW+ critical campus capacity on 65 acres; delivered IT MW unknown",
      "milestone": "Direct state generator-permit decision, campus-phase occupancy and utility acceptance",
      "facts": [
        {
          "issuer": "City of Aurora",
          "publicationDate": null,
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://coaapps.auroragov.org/publicdocuments/publicrecordsearch.aspx?locationkey=227486",
          "text": "Government index at 1164 N Gun Club Road identifies QTS DEN1 DC1 guard-shack plans B1911699–B1911701 released November 7, 2023, building permit B1911702 and guard-booth occupancy index B1982975 released July 3, 2024. Underlying occupancy PDF inaccessible. Index establishes listed records only; release date is not actual issuance date, and guard-booth occupancy is not campus occupancy.",
          "kind": "Government record",
          "accessible": true
        },
        {
          "issuer": "QTS Data Centers",
          "publicationDate": null,
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://q.com/data-centers/denver/",
          "text": "Current operator page identifies Denver 1 at 1160 N Gun Club Road, Aurora, and planned 160 MW+ critical capacity across 65 owned acres. These are company plans, not delivered IT MW; current tenant and operating capacity unestablished.",
          "kind": "Company disclosure",
          "accessible": true
        },
        {
          "issuer": "Colorado Public Radio",
          "publicationDate": "2026-07-08",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.cpr.org/2026/07/08/qts-aurora-data-center-diesel-generators/",
          "text": "Original site reporting updated July 8 documents June 16 construction: one building described complete, another nearly finished, third footprint being prepared. Reports July 2025 air-permit amendment proposing 98 additional generators beyond 40 installed. Permit approval not verified from direct state record. Aurora Water official reports about 2,400 gallons daily; not a forecast for fully built campus.",
          "kind": "Independent local reporting",
          "accessible": true
        },
        {
          "issuer": "DatacenterDynamics",
          "publicationDate": "2022-07-25",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.datacenterdynamics.com/en/news/qts-plans-15m-sq-ft-expansion-at-henrico-virginia-campus-and-denver-build-out/",
          "text": "Independent discovery of newly listed Denver campus; historical operator plan 177 MW / 67 acres. Current operator 160 MW+ / 65 acres supersedes these planning figures. Reporter notes former JPMorgan site; old facility and current redevelopment are one campus here, not two entries.",
          "kind": "Independent specialist reporting",
          "accessible": true
        }
      ],
      "power": null,
      "demand": null,
      "funding": null,
      "economics": "The campus is a QTS development within Blackstone ownership. No project budget, debt closing, leases, site revenue or Blackstone earnings contribution was verified. Historical 177 MW / 67-acre marketing differs from current 160 MW+ / 65-acre disclosure; do not add them or interpret the difference as verified cancellation. Our analysis: phased delivery and regulatory compliance determine when planned capacity becomes billable service.",
      "gaps": "Direct state air application/decision, phase-specific campus occupancy, utility agreement/tariff, energization, AI customers, operating capacity and financing unknown.",
      "readinessBasis": "Original site reporting updated July 8 documents June 16 construction: one building described complete, another nearly finished, third footprint being prepared. Reports July 2025 air-permit amendment proposing 98 additional generators beyond 40 installed. Permit approval not verified from direct state record. Aurora Water official reports about 2,400 gallons daily; not a forecast for fully built campus.",
      "readinessSource": {
        "issuer": "Colorado Public Radio",
        "publicationDate": "2026-07-08",
        "eventDate": null,
        "reviewed": "2026-10-08",
        "url": "https://www.cpr.org/2026/07/08/qts-aurora-data-center-diesel-generators/",
        "text": "Original site reporting updated July 8 documents June 16 construction: one building described complete, another nearly finished, third footprint being prepared. Reports July 2025 air-permit amendment proposing 98 additional generators beyond 40 installed. Permit approval not verified from direct state record. Aurora Water official reports about 2,400 gallons daily; not a forecast for fully built campus.",
        "kind": "Independent local reporting",
        "accessible": true
      },
      "reviewed": "October 8, 2026",
      "readinessReviewed": "2026-10-08",
      "evidence": [
        "Company disclosure",
        "Government record",
        "Independent local reporting",
        "Independent specialist reporting"
      ]
    },
    {
      "id": "databank-centennial",
      "title": "DataBank Centennial Campus / DEN5",
      "location": "United States / Colorado / Centennial — approximate locality pin",
      "region": "Colorado",
      "country": "United States",
      "subregion": "Colorado",
      "continent": "North America",
      "coords": [
        39.59,
        -104.85
      ],
      "precision": "Approximate Centennial locality rounded to hundredths of a degree; not parcel, building or entrance coordinates",
      "company": "DataBank; Xcel Energy",
      "companyRoles": {
        "XEL": "Company identifies Xcel-managed off-site substation serving the campus; tariff, incremental power and earnings not verified."
      },
      "status": "City’s April 2025 bulletin confirms DEN5 opened the preceding fall; current utilization unverified",
      "stage": "Operating",
      "readiness": "Operating",
      "model": "Multi-tenant data-center campus",
      "capacity": "DEN5 company-listed 16 MW critical IT capacity; DEN2 4 MW; capacity is not occupied load",
      "milestone": "Verify current lease-up, delivered high-density deployments and incremental power terms",
      "facts": [
        {
          "issuer": "City of Centennial Economic Development",
          "publicationDate": "2025-04-04",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://content.govdelivery.com/accounts/COCENTENNIAL/bulletins/3d9a107",
          "text": "Government business bulletin states DEN5 at 6961 S Quentin Street opened the previous fall. This establishes city acknowledgment of opening, not a permit/inspection certificate, occupancy level, delivered MW or named AI customer.",
          "kind": "Government record",
          "accessible": true
        },
        {
          "issuer": "DataBank",
          "publicationDate": "2021-07-26",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.databank.com/resources/press-releases/databank-acquires-building-land-for-fifth-data-center-in-denver/",
          "text": "Original acquisition disclosure identifies 6961 S Quentin Street as future DEN5 adjacent to DEN2. Historical initial 6 MW plan is not current operating load; no project debt or customer award established.",
          "kind": "Company disclosure",
          "accessible": true
        },
        {
          "issuer": "DataBank",
          "publicationDate": "2024-09-04",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.databank.com/resources/press-releases/databank-celebrates-grand-opening-of-newest-metro-denver-data-center/",
          "text": "Announces October 3, 2024 grand-opening event and 16 MW critical IT capacity. Announcement alone is not event completion; later city bulletin supports opening. Historical 75,000-square-foot description differs in scope from current 56,000 IT square feet.",
          "kind": "Company disclosure",
          "accessible": true
        },
        {
          "issuer": "DataBank",
          "publicationDate": null,
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.databank.com/data-centers/denver/centennial-campus/",
          "text": "Current operator page lists DEN2 4 MW and DEN5 16 MW critical IT capacity and 56,000 IT square feet for DEN5; shared 11-acre campus and Xcel off-site substation. Company capacity is not measured utilization or tenant-accepted load.",
          "kind": "Company disclosure",
          "accessible": true
        },
        {
          "issuer": "DatacenterDynamics",
          "publicationDate": "2022-02-03",
          "eventDate": null,
          "reviewed": "2026-10-08",
          "url": "https://www.datacenterdynamics.com/en/news/databank-acquires-den2-data-center-land-plans-centennial-campus/",
          "text": "Reports purchase of formerly leased DEN2 and integration with adjacent DEN5 conversion into one campus. Historical 15 MW full DEN5 plan superseded by current 16 MW company figure. Article substantially draws on company statements; same underlying disclosures not independent corroboration.",
          "kind": "Independent specialist reporting",
          "accessible": true
        }
      ],
      "power": null,
      "demand": null,
      "funding": null,
      "economics": "Operator lists DEN5 16 MW and DEN2 4 MW critical IT capacity within one campus. This is design/available capacity, not metered utilization or revenue. No campus acquisition price, project financing close, occupancy, lease yield or margin was verified. Xcel service association is company-reported; no incremental utility earnings assigned. Our analysis: an opened facility offers nearer-term lease-up relevance than a proposed megacampus, while AI customer exposure remains unproven.",
      "gaps": "Campus permits/occupancy certificates, measured IT load, named AI customers, lease-up, specific financing and power commercial terms unknown.",
      "readinessBasis": "Government business bulletin states DEN5 at 6961 S Quentin Street opened the previous fall. This establishes city acknowledgment of opening, not a permit/inspection certificate, occupancy level, delivered MW or named AI customer.",
      "readinessSource": {
        "issuer": "City of Centennial Economic Development",
        "publicationDate": "2025-04-04",
        "eventDate": null,
        "reviewed": "2026-10-08",
        "url": "https://content.govdelivery.com/accounts/COCENTENNIAL/bulletins/3d9a107",
        "text": "Government business bulletin states DEN5 at 6961 S Quentin Street opened the previous fall. This establishes city acknowledgment of opening, not a permit/inspection certificate, occupancy level, delivered MW or named AI customer.",
        "kind": "Government record",
        "accessible": true
      },
      "reviewed": "October 8, 2026",
      "readinessReviewed": "2026-10-08",
      "evidence": [
        "Company disclosure",
        "Government record",
        "Independent specialist reporting"
      ]
    }
  ],
  "governmentRecords": [
    {
      "project": "flexential-parker",
      "agency": "Town of Parker",
      "identifier": null,
      "recordType": "Town construction notice",
      "filingDate": null,
      "decisionDate": null,
      "status": "Town notice states Flexential is under construction in the Compark area of north Parker. It is a public-information notice, not a building permit, occupancy certificate or energization record.",
      "url": "https://parkerco.gov/m/newsflash/Archive/Item/2412?arcId=4065",
      "reviewed": "2026-10-08",
      "applicant": null,
      "scope": "Campus construction notice",
      "claim": "Town notice states Flexential is under construction in the Compark area of north Parker. It is a public-information notice, not a building permit, occupancy certificate or energization record.",
      "conditions": "Not a comprehensive campus permit/commissioning audit. Unestablished dates and identifiers remain null."
    },
    {
      "project": "coresite-de3-denver",
      "agency": "City and County of Denver",
      "identifier": "24-1084; OEDEV-202475137",
      "recordType": "Tabled revenue-return resolution",
      "filingDate": null,
      "decisionDate": null,
      "status": "File 24-1084, created August 16, 2024, proposes CoreSite LP revenue-return agreement up to $9 million through June 30, 2039 (OEDEV-202475137). Status tabled; final action blank. Postponements August 28 and October 2 do not establish approved incentives or construction authorization.",
      "url": "https://denver.legistar.com/LegislationDetail.aspx?GUID=8888E6F2-D221-4CBE-80FD-4361184BFD64&ID=7051263&Options=&Search=",
      "reviewed": "2026-10-08",
      "applicant": null,
      "scope": "Revenue-return proposal",
      "claim": "File 24-1084, created August 16, 2024, proposes CoreSite LP revenue-return agreement up to $9 million through June 30, 2039 (OEDEV-202475137). Status tabled; final action blank. Postponements August 28 and October 2 do not establish approved incentives or construction authorization.",
      "conditions": "Not a comprehensive campus permit/commissioning audit. Unestablished dates and identifiers remain null."
    },
    {
      "project": "qts-aurora-denver",
      "agency": "City of Aurora",
      "identifier": "B1911702; B1911699–B1911701; B1982975",
      "recordType": "Public permit/occupancy index — guard booth only",
      "filingDate": null,
      "decisionDate": null,
      "status": "Government index at 1164 N Gun Club Road identifies QTS DEN1 DC1 guard-shack plans B1911699–B1911701 released November 7, 2023, building permit B1911702 and guard-booth occupancy index B1982975 released July 3, 2024. Underlying occupancy PDF inaccessible. Index establishes listed records only; release date is not actual issuance date, and guard-booth occupancy is not campus occupancy.",
      "url": "https://coaapps.auroragov.org/publicdocuments/publicrecordsearch.aspx?locationkey=227486",
      "reviewed": "2026-10-08",
      "applicant": null,
      "scope": "Guard booth only",
      "claim": "Government index at 1164 N Gun Club Road identifies QTS DEN1 DC1 guard-shack plans B1911699–B1911701 released November 7, 2023, building permit B1911702 and guard-booth occupancy index B1982975 released July 3, 2024. Underlying occupancy PDF inaccessible. Index establishes listed records only; release date is not actual issuance date, and guard-booth occupancy is not campus occupancy.",
      "conditions": "Not a comprehensive campus permit/commissioning audit. Unestablished dates and identifiers remain null."
    },
    {
      "project": "databank-centennial",
      "agency": "City of Centennial Economic Development",
      "identifier": null,
      "recordType": "Municipal economic-development bulletin",
      "filingDate": null,
      "decisionDate": null,
      "status": "Government business bulletin states DEN5 at 6961 S Quentin Street opened the previous fall. This establishes city acknowledgment of opening, not a permit/inspection certificate, occupancy level, delivered MW or named AI customer.",
      "url": "https://content.govdelivery.com/accounts/COCENTENNIAL/bulletins/3d9a107",
      "reviewed": "2026-10-08",
      "applicant": null,
      "scope": "DEN5 opening acknowledgment",
      "claim": "Government business bulletin states DEN5 at 6961 S Quentin Street opened the previous fall. This establishes city acknowledgment of opening, not a permit/inspection certificate, occupancy level, delivered MW or named AI customer.",
      "conditions": "Not a comprehensive campus permit/commissioning audit. Unestablished dates and identifiers remain null."
    }
  ],
  "held": [
    {
      "candidate": "Vantage Trident at Windler",
      "reason": "Direct project-specific government application inaccessible; reported dimensions inconsistent. No unsupported addition."
    }
  ],
  "coverageRationale": "Four distinct Denver-area campus omissions fill Colorado coverage from 2 to 6; DataBank buildings count as one campus. AI-specific customers are not inferred from colocation capability.",
  "limitations": [
    "Government source scope varies: town construction notice, tabled financial proposal, guard-booth index, city opening acknowledgment. None establishes comprehensive campus authorization.",
    "QTS underlying occupancy PDF inaccessible; only readable index counted.",
    "DCD company-announcement coverage is labeled and not treated as independent confirmation of issuer facts.",
    "Company capacities are planned/design figures, not measured operating load.",
    "No verified current completion dates, tenant contracts, vendor awards, project earnings or financing close inferred."
  ]
}