JK Land Plans Data Center After Purchasing Virginia Site for $60M

JK Land Holdings, LLC has purchased a two-building site that consists of commercial office and industrial space for $60 million in Virginia.

The properties are positioned at 19886 Ashburn Road in Loudoun County on a 25.29-acre site. The commercial office building, featuring three stories, measures 110,000 square feet. The industrial complex, which has a research & development structure, is one story with 80,000 square feet.

The warehouse facility features two and four dock-high drive-in loading doors, a parking lot, and up to 20 square feet in ceiling height. Also, the two properties are close to amenities in the area such as Ashbrook Commons, One Loudoun, Belmont Chase Center, and Lansdowne Town Center. Plus, Dulles International Airport is eight miles away.

Both buildings represent the headquarters for Telos Corporation, which the tech and cybersecurity firm has occupied since 1988.

In addition, JK plans to construct a 360,000 data center on the parcel. A specific timeframe has not been provided.

Finmarc Management, Inc., which has owned the site since 2019, sold the site to JK.

“The buyer acquired a property with appropriate entitlements in place to develop a new data center in a market that continues to experience supply constraints,”  Finmarc co-founder and principal David Fink, said in a statement.

“We continue to aggressively search for emerging real estate opportunities throughout the Mid-Atlantic and Carolina regions, and fully intend to redeploy the funds generated by this sale to reach our acquisition goals.

“Our team is particularly interested in acquiring under-performing properties that provide us with the opportunity to create long-term value with the implementation of our proven leasing and asset management protocols.”

According to Finmarc, citing data from Virginia Economic Development Partnership Virginia, the state operates the largest data center hub in the world, with over 35 percent of the sites in the Northern region. That’s coupled with Loudoun County’s average of more than $206,000 in household income being the highest in the nation since 2007, per Finmarc.

JK was represented by Ryan Goeller of KLNB in the sale.