Acquisition of land in Sterling, Virginia completed in partnership with Penzance
EdgeCore Digital Infrastructure, a wholesale data center developer, owner, and operator, today announced the expansion of its presence in Northern Virginia through the establishment of a partnership with Penzance, a Washington, D.C.-based real estate developer, to co-develop 7.6 acres centrally located in the heart of the largest data center market in the world.
The site supports customers seeking high-performance capacity with low-latency access to leading cloud hubs and supporting network access across Northern Virginia.
“With the acquisition of additional land in Northern Virginia, EdgeCore adds another key data center location to our portfolio and continues to advance our focus on rapid growth and development in key data center markets,” said Lee Kestler, CEO, EdgeCore. “We are pleased to have partnered with Penzance on this project and are grateful for the acceleration they bring to the process through their deep regional expertise and connections.”
This newly acquired parcel will accommodate a 285,000-square-foot, three-story data center capable of supporting 36 MW of critical load. The site plan approval process is expected to be completed by the end of 2023. A dozen local and national long-haul fiber providers are located adjacent to the site, making EdgeCore’s newest data center located in Northern Virginia an attractive option for leading cloud and internet companies.
“The Penzance team has prepared this site for data center development and is excited that our partner, EdgeCore, shares our vision and will apply its expertise to advance the project to its next phase,” said Cristopher White, Managing Director of Investments, Penzance. “We continue to invest in and grow our Virginia portfolio across multiple product types, including data center, industrial, and multifamily through our discretionary value add funds.”
EdgeCore’s existing site in Northern Virginia, comprised of 48,000 square feet and capable of supporting 54 MW of critical load, is located just two miles from this newly acquired land. Combined, both EdgeCore data center sites provide 633,000 square feet of space and 90 MW of critical load to customers seeking space in the world’s most vital data center market.
In November 2022, EdgeCore was acquired by Partners Group, a leading global private markets firm acting on behalf of its clients. Partners Group will invest up to USD $1.2 billion to fund the acquisition and buildout of existing and future data center sites. Today’s expansion announcement in Northern Virginia is the latest development project announced by EdgeCore in 2023, the first of which was announced in January for Silicon Valley, California.