D.C.-based PRP Real Estate Investment Management sold a 40-acre property planned for 1.1M SF of data centers in the country’s largest internet infrastructure market in the world.
PRP’s site plan for Manassas Point, including 1.1M SF of data centers and a 300 megawatt substation.
Iron Mountain paid PRP $113.5M for the Manassas, Virginia, development site in a deal that closed Thursday, PRP told Bisnow. The sale works out to $2.8M per acre.
PRP assembled the site, which it calls Manassas Point, out of three parcels it acquired between 2022 and 2023. The firm rezoned the parcels into one and received county approval for the building heights to match the 1.1M SF plan it developed.
The data center is planned across three buildings next to a 300-megawatt substation. PRP said it worked with Dominion Energy and Northern Virginia Electric Cooperative to secure an expedited power delivery schedule, a process that has become a top challenge in the market today.
Click here to read the rest of the article written by Emily Wishingrad over at Bisnow
