TA Realty has put forward plans to construct a 1.5 million-square-foot data center campus valued at $1.8 billion in Loudoun County, Va., an investment that marks the company’s entry into the sector. The property will have more than 300 megawatts of power and a dedicated substation located onsite. TA Realty plans to deliver the first buildings by late 2021.
The new facility will be erected on a 94.9-acre parcel near the intersection of Sycolin and Cochran Mill roads in Leesburg, Va. TA Realty paid $60 million for the development site at the end of March, Loudoun County records show.
Widely considered to be the largest data center market in the world, Northern Virginia has an estimated 18 million square feet of data center space in operation. The area’s digital infrastructure is also continuing to spur development activity: A number of major projects have kicked off in the last year alone.
Although the past year has been challenging for many commercial real estate sectors, data center assets have been strong performers. Eight of the 14 major U.S. data center markets posted an increase in net absorption in 2020, according to a JLL report.