I used to colocate a 2U server that I purchased with a local data center. It was a great learning experience for me. Im curious why a company wouldn't colocate their own hardware? Proximity isnt an issue when you can have the datacenter perform physical tasks. Bravo to the comma team regardless. It'll be a great learning experience and make each person on their team better.
Ps... bx cable instead of conduit for electrical looks cringe.
The main reason not to colocate is if you're somewhere with high real estate costs... E.g Hetzner managed servers competes on price w/co-location for me because I'm in London.