There’s a new player in Loudoun’s data center market. Denver-based Northstar Commercial Partners had acquired land along Rt. 28 to build two data centers that already are committed to lease by one of the world’s largest companies.
The deal is based on a build-to-suit contract with a Fortune’s 20 firm to deliver 400,000 square feet of data center space.
Work is expected to begin quickly on the 32-acre site. The initial project envisions a $100 million investment, with completion of construction of the first building by year’s end.
Northstar’s portfolio includes office buildings and industrial/warehouse space, but it’s not a known player in the data center market, until now.
“I’m thrilled to have Northstar involved as a key programmatic developer of data storage facilities,” state company founder and CEO Brian Watson in making the announcement. “This is an exciting and truly transformational project to be involved with on a variety of levels—we’re eager to get to work and deliver.”
This project is expected to create more than 300 construction jobs on site.
The price purchase was not immediately known, but data center developer QTS recently paid $36 million—about $1.28 million per acre—for a nearby tract.