St. John Properties Sells 34 Acres of Land in Ashburn, VA
ASHBURN, VA (January 14, 2012) – St. John Properties, Inc. has sold 34 acres of land in the Ashburn area of Loudoun County, Virginia to an unnamed buyer for $14 million. The property is located in the center of data center activity in Northern Virginia based on its proximity to the Internet backbone network/access, Dominion Virginia Power’s Beaumeade Substation, and infrastructure for connection to Loudoun Water’s reclaimed water system, which provides operational savings associated with cooling water. The sale, which closed at the end of 2012, represents a sales price of more than $400,000 per acre.
The acreage is located off Smith Switch Road, near the intersection of Gloucester Parkway and Loudoun County Parkway.
“Located at the epicenter of the Northern Virginia’s data center cluster, the property offers an ideal location for co-location and user-operated data centers,” stated Matt Holbrook, Regional Partner for St. John Properties. “We completed several entitlement enhancements during our ownership of the property that bolstered the land value including, land assemblage, proffer satisfaction, infrastructure installation and some favorable site permits.”
St. John Properties recently broke ground on the construction of two new office/R&D/flex buildings in nearby Ashburn Technology Park. The two 54,120 square foot LEED® buildings designed for LEED Silver certification will deliver in May 2013. St. John Properties owns Ashburn Technology Park, located off Waxpool Road (VA Route 625) and the Dulles Greenway, which consists of six research and development /office/flex buildings comprising more than 336,000 square feet of space. The park is near Washington Dulles International Airport, the Dulles Toll Road and the growing population of eastern Loudoun County.
St. John Properties, Inc., founded in 1971, owns and has developed nearly 17 million square feet of office, R&D/flex, retail and warehouse space in Maryland, Colorado, Louisiana, Pennsylvania, Virginia and Wisconsin. For more information about the company, visit sjp.mu9b0uf9-liquidwebsites.com.
For more information, contact:
Al Cunniff, Director of Marketing, St. John Properties, Inc.