Source: TechnavioSTERLING, VA–Land in this submarket is in high demand for data center development as two recent transactions show. In one, the Denver-based company EdgeCore Internet Real Estate has acquired has acquired 36.8 acres of land on which it plans to build its Northern Virginia data center campus.
The second transaction is by Corporate Office Properties Trust, which, according to the Washington Business Journal, is under contract to buy 78 acres in Sterling where it will develop multiple data centers for Amazon Web Services.
Entering Northern Virginia
For EdgeCore this transaction represents its entry into the Northern Virginia market. Since closing its initial capital raise in February 2018, EdgeCore has acquired land to build data center campuses in the Dallas, Phoenix and Reno markets. “Our entry into Northern Virginia represents our fourth market over the past six months and we remain focused upon entering additional markets over the next year,” says Tom Ray, chairman and CEO of EdgeCore, in a prepared statement.
A Growing Market
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
