Sabey nearly doubles its Oklaunion land holdings
The paper trail surrounding Sabey Data Centers’ proposed North Texas campus has grown considerably stronger, but it still points to pre-development rather than construction of a data-center building.
The July 21, 2026, certified Wilbarger County appraisal roll identifies NPDC LLC/Sabey Corporation as owner of three tracts along FM 2897 totaling 1,245 acres.
The largest is a 645-acre tract in Block 14, Section 18 of the H&TC survey. A second tract contains 320 acres in Section 19, and a third contains 280 acres in Section 22.
Together, the properties carry a 2026 appraisal-district market value of approximately $2.61 million.
Those are appraisal values, not the prices Sabey paid for the properties.
The amount of development shown on the appraisal roll remains minimal. Only $2,600 in non-homesite improvement value is listed, all on the original 645-acre tract. No improvement value is shown on the additional 600 acres.
The year-to-year change is significant.
The July 20, 2025, certified appraisal roll showed NPDC LLC owning only the 645-acre Section 18 property. At the time, its market value was approximately $1.08 million and it carried the same $2,600 in improvements.
By the 2026 certified roll, another 600 acres had moved under NPDC/Sabey ownership.
That increased Sabey’s documented land position by approximately 93%, from 645 acres to 1,245 acres, between the two certified appraisal snapshots.
The appraisal records establish the change in ownership, but not the precise dates on which the transactions closed or the prices Sabey paid. The underlying Wilbarger County deed records will be needed to establish those details and determine whether the transactions included utility, access, transmission or other easements.
The expansion is substantial evidence that Sabey has continued investing in the Oklaunion location.
It does not establish that construction of the data center has started.
National Real Estate Advisors, Sabey’s longtime investment partner, continues to list SDC North Texas at Oklaunion as a data-center investment with the status “Pre-Development.” National lists no rentable square footage for the project.
Sabey’s current public data-center locations page lists Seattle, East Wenatchee and Quincy in Washington; Umatilla, Oregon; Manhattan, New York; Ashburn, Virginia; and Round Rock, Texas.
Oklaunion is not included on that customer-facing locations page, although National continues to carry SDC North Texas in its portfolio.
That should not be interpreted as evidence Sabey has abandoned Oklaunion. The land purchases point in the opposite direction.
More significantly, utility and import records now show that high-voltage electrical interconnection work bearing Sabey’s name has progressed beyond the conceptual stage.
A Public Utility Commission of Texas contract index lists a “Facilities Development Agreement — Riley Sabey Interconnection” between Electric Transmission Texas and AEP Texas. The agreement is dated Oct. 18, 2024, and was included in a filing with the PUCT in May 2025. The underlying agreement is confidential, so the public index does not disclose its cost, electrical capacity, construction schedule or precise scope.
Additional evidence surfaced in August 2026.
U.S. import records show three JOF362G current transformers manufactured by PFIFFNER do Brasil arrived through Houston on Aug. 26. The three units, packed in three wooden crates, had a combined shipment weight of approximately 4,300 kilograms, or about 9,480 pounds.
The buyer identification on the shipment was “AEP 345KV RILEY STATION-SABEY,” with Burns & McDonnell Engineering Co. associated with the shipment. Separate import records list the associated address as 12108 FM 2897 S., Oklaunion.
The equipment is significant, but its function should be described accurately.
PFIFFNER says its JOF series current transformers are high-voltage instrument transformers used on electrical networks from 24 kilovolts to 550 kilovolts. They convert high electrical current into standardized values that can be used by meters, measuring systems and protective devices. They are not the massive power transformers used to step electricity from one voltage level to another.
The reference to “AEP 345KV RILEY STATION-SABEY” on equipment imported specifically for a high-voltage electrical system, combined with the earlier Riley-Sabey facilities development agreement, is strong evidence that transmission or substation infrastructure associated with Sabey’s Oklaunion project has been advancing.
It does not prove the data-center buildings are under construction, that the site has been energized or that Sabey has received a final commitment for 200 MW of electrical service.
But it changes the picture of the project.
The strongest evidence of Sabey activity at Oklaunion now includes land assembly, subsurface test drilling and identifiable high-voltage interconnection work.
There also is an important discrepancy in Sabey’s own historical descriptions of the project.
Sabey’s earlier sustainability materials described SDC North Texas as a development of at least 150 megawatts. By September 2024, company marketing sheets listed 200 MW for SDC North Texas in an “Under Construction” capacity category. An April 2025 Sabey capacity sheet again showed 200 MW under that heading.
The evidence now available indicates that those marketing sheets should not be interpreted as proof that a 200-MW data-center building was physically under construction.
National’s current pre-development designation, the absence of substantial building improvements on the appraisal roll and the lack of a publicly located ground-up Sabey data-center construction registration all point to a project that has not yet reached vertical construction.
The most defensible description is that Sabey previously marketed SDC North Texas at up to 200 MW, has conducted physical site investigation, assembled 1,245 acres and is associated with documented high-voltage interconnection work, but has not publicly documented construction of the data-center buildings.
