Another day, another data center deal.
The county announced today that Maryland-based Corporate Office Properties Trust purchased 34 acres for $14 million near the intersection of Gloucester Parkway and Loudoun County Parkway in Ashburn. The new campus will serve an investment-grade Fortune 500 company, which has not yet been named.
According to St. John Properties--the seller--the Internet network/access will come from Dominion Virginia Power’s Beaumeade Substation, and will have connection to Loudoun Water’s reclaimed water system to provide operational savings associated with cooling water.
“Located at the epicenter of the Northern Virginia’s data center cluster, the property offers an ideal location for co-location and user-operated data centers,” Matt Holbrook, Regional Partner for St. John Properties said in a statement. “We completed several entitlement enhancements during our ownership of the property that bolstered the land value including land assemblage, proffer satisfaction, infrastructure installation and some favorable site permits.”
The sale price, which closed at the end of the, was more than $400,000 per acre.
COPT plans to start construction on the 200,000-square-foot building early this year, to be followed by a construction start on a 115,000-square-foot building by mid-2014, according to the county's Department of Economic Development. In total it will be a $42 million project.
“We are pleased to be able to meet this customer’s need in Northern Virginia, one of COPT’s strategic markets,” COPT President and CEO Roger A. Waesche, Jr. said in a statement.
COPT Senior VP of Government Services Chuck Fiala said his company was “very impressed with the professionals in Loudoun County and the way they have embraced this project. They’ve been responsive and thorough, and we look forward to a smooth construction process.”
In 2012, close to three million square feet of data center space was added to Loudoun’s existing 4.5 million square feet of data centers, adding to what has been called "data center alley." Up to 70 percent of the world’s Internet traffic passes through Loudoun’s data centers each day.