Why would you call colocation "building your own data center"? You could call it "colocation" or "renting space in a data center". What are you building? You're racking. Can you say what you mean?
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Still kudos going this path in the cloud-centric time we live in.
I feel it's important to stress that the difficulty level of collocating something, let alone actually building a data center, is exactly what makes cloud computing so enticing and popular.
Everyone focuses on trivia items like OpEx vs CapEx and dynamic scaling, but the massive task of actually plugging in the hardware in a secure setting and get it to work reliably is a massive undertaking.