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Freddie Mac Buys 110,000-SF Data Center for $19.5M

HERNDON, VA-The data center at 544 Herndon Parkway sells in a $19.5-million transaction. Freddie Mac buys the 110,000-sf building from Goldman Sachs Whitehall Fund and will occupy the entire structure.

By Barbra Murray | Updated on February 22, 2002

HERNDON, VA-In a $19.5-million transaction, Freddie Mac has acquired the 110,000-sf data center at 544 Herndon Parkway from Goldman Sachs Whitehall Fund. The deal includes additional funds paid to former tenant Exodus Communications for existing tenant improvements. Freddie Mac plans to occupy the entire structure.

“It’s a pretty extensive and pretty high-quality space, and it met what we were looking for in terms of it being a central data storage facility,” Freddie Mac director of corporate communications Douglas Robinson tells GlobeSt.com. “We’re always looking for an opportunity to get the best use of space we see in the market, or space we’re currently using. Having a state-of-the-art center and installing state-of-the-art equipment is something we’re always trying to do. “The deal closed earlier this month, once the court approved the portion of the transaction that pertained to Exodus, which is currently in bankruptcy. The property has been on and off the market on a few occasions in the recent past. Whitehall came close to finding a new owner in a Germany-based affiliate of HypoVereinsbank in July 2000 for $21.5 million, but that arrangement fell through. Last summer, the listing was pulled due to weak demand in the market.

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