DULLES, VA-Amazon is leasing a building on Route 28 North, called Severn May, that it plans to eventually use for its data center operations. The 125,000-square-foot building was acquired by a venture between Washington, DC-based PRP and Altus Realty three years ago from a subsidiary of EADS. Amazon plans to invest $60 million in the building to transform it into appropriate space for its data center operations, a source tells GlobeSt.com.
As data center space becomes ever more scarce in the area, a growing number of firms are investing in building out the operations themselves. Microsoft, for example, is investing $499 million in the southern county of Mecklenburg to build a data center. It will be the largest investment here and create 50 jobs, according to Virginia Gov. Bob McDonnell.
At the same time, REITs and other real estate investors are beginning to eye this asset class. Corporate Office Properties Trust is expanding into this area, having recently acquired a 233,000-square-foot data center known as Power Loft @ Innovation for $115 million. It plans to invest an additional $166 million to bring it up to full capacity.
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