CULPEPER COUNTY, VA-Miami-based Terremark Worldwide is expanding its data center facility operations here. It has just acquired a 28-acre site for $5 million that is adjacent to its existing 30-acre data center campus. The seller was a local developer.
Todd McManus of Appian Realty Advisors represented the seller in the transaction. It had planned several potential uses for the site, he tells GlobeSt.com. McManus eventually identified data center facilities as the best use for the plot of land.
Indeed, there is scarcely any data center space available in the Greater DC area, Bryan Loewen, with Dallas-based GVA Cawley's Mission Critical Connect, told GlobeSt.com in an earlier interview. There are two major operators here, he explains--both of which are out of space. Digital Realty Trust will not have new space coming on line until Q1 of next year. Then there is DuPont Fabros Technology, which is out of capacity until it develops new facilities "and they haven’t even reached a date for that."
Terremark Worldwide’s plan for its existing facility--next to the plot of land it has purchased--calls for up to six 50,000-square-foot data center facilities; four of which have been built. A similar facility is expected to be developed on its new site.
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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.
