A data center developer has purchased an Ashburn industrial office park for $375 million. The sale amount is four times the property’s assessed value, Washington Business Journal reported.
Cologix purchased the Beaumeade Corporate Park from an affiliate of Merritt Properties. The acquisition included a $317 million purchase for several lots on Guilford Dr. that encompass about 34 acres. In a separate transaction, Cologix paid $58 million for about 6 acres at 44620 Guilford Dr.
Cologix announced the Ashburn land acquisition earlier this month. A news release from the company said that the sale “represents a rare opportunity to secure long-term capacity in a highly constrained market where access to scale, connectivity and proximity are increasingly scarce.”
The company plans to develop a “state-of-the-art interconnection hub on this campus as an option for its customers offering redundancy and resilience built for AI-scale networking.” The facility will have an initial power capacity of 85 megawatts with the ability to scale up to more than 300. Planning is expected to begin in 2030.
“As the global epicenter of digital infrastructure, Ashburn offers unmatched scale, density and strategic importance,” said Cologix CEO Laura Ortman. “Opportunities to acquire land of this caliber, in the center of Data Center Alley, are exceptionally rare. This investment reflects our long-term conviction in the market and our commitment to delivering next-generation interconnection, AI and hybrid cloud services for our customers.”
Feature image, stock.adobe.com
