TA Realty LLC, a provider of real estate investment management services, announced today that it has signed a 430 MW build-to-suit lease agreement for its entire data center campus in Loudoun County, VA, with a premier global cloud services provider. The agreement includes leases across five buildings, making up the entire 1.9 million-square-foot project.
TA Realty’s development site, which is situated on the east side of Sycolin Road and is bound by Cochran Mill Road to the north and Energy Park Drive to the south in Leesburg, VA, is strategically positioned atop major fiber routes and alongside transmission lines. In addition to access to diverse fiber connections, the location is ideal for data center development due to an adjacent power plant, logistics facility, and an existing substation that provides power to another data center facility. Loudoun County is home to the largest concentration of data centers in the world and, once complete, TA Realty’s campus will be among the largest and most modern campuses in the area.
Speaking about the proposed development, Buddy Rizer, Executive Director of Loudoun Economic Development, stated that, “Loudoun County is excited to welcome TA Realty and to support the development of one of the largest new data center campuses approved and planned for our county. In addition to bringing more data center capacity to the region, TA Realty’s commitment to the community is illustrated through the company’s investment in bringing a new water pump station to the site, improving the quality and distribution of water to our entire community.”
“This project exhibits TA Realty’s ability to source outstanding opportunities in the data center industry, particularly in Tier 1, mature markets,” said Allison O’Rourke, Partner at TA Realty. “Our dedication to creating value through partnering with local authorities, utilities and network partners led to this opportunity. We look forward to supporting this strategic customer and working alongside them to complete this world-class project.”
TA Realty expects to commence construction of the site’s first building later this year. The tenant selected TA Realty’s data center campus due to its scale, power advantages and location near the heart of Data Center Alley. Construction on the secure campus is expected to be completed in 2027.
The announcement marks the formation of a new group at TA Realty dedicated to digital infrastructure, which will be formally announced in early 2024. For more information about TA Realty, visit www.tarealty.com.
About TA Realty
Founded in 1982, TA Realty is an experienced and established real estate investment management firm. The Firm is headquartered in Boston, Massachusetts, with additional offices in Newport Beach, California, Dallas, Texas and San Francisco, California. Since its inception, through June 30, 2023, TA Realty has acquired, invested and/or managed approximately $40 billion of real estate assets through core, core plus and value-add strategies and customized separate/advisory accounts. TA Realty’s investment philosophy focuses on creating diversified real estate portfolios that aim to generate strong cash flow, receive intensive asset management, and seek to achieve long-term value creation. For four decades, TA Realty has maintained this philosophy through multiple real estate and economic cycles, a strength recognized by pension funds, endowments, foundations, and high-net-worth individuals. For more information, please visit www.tarealty.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231116905474/en/