Sentinel Data Centers Buys Washington Dulles Gateway
It paid $82.5 million for the site or $589,000 per acre.
DULLES, VA–Sentinel Data Centers has made its second acquisition in the Washington DC area with its $82.5 million purchase of Washington Dulles Gateway. The 280-acre site traded for $589,000 per usable acre and it will net approximately 140 acres of net developable land. JLL, which brokered the disposition, says it is one of the largest contiguous land parcels remaining for data center development in Northern Virginia. H. Christopher Antigone was the seller.
As part of a prepared statement, Mark G. Levy, managing director who led the JLL team noted it was a complex transaction. Indeed the site has been on the market for about a year and had gone through a very competitive bidding process, according to word on the street.
Sentinel Data Centers’ first venture in Northern Virginia was the purchase of 65 acres in Loudoun County last year.
Jay Taustin was the ownership representative. JLL’s Levy, Matthew Gallagher and Jonathan Walker represented the seller and John W. Farrell of McCandish Lillard acted as the seller’s transactional counsel and Michelle Rosati of Holland and Knight acted as the seller’s land use counsel.