Asset manager T. Rowe has sold an office and data center site outside Baltimore, Maryland, to Amazon in a sale-leaseback deal.

BizJournal and CoStar report Amazon Data Services has acquired a nine-acre property in Owings Mills in Baltimore County from T. Rowe Price Group. The companies have confirmed the sale.

The site, at 11550 Cronridge Drive, sold for $15.2 million. It reportedly hosts 111,000 sq ft (10,310 sqm) of office space.

Listed as a Technology Center, online postings suggest the site also holds at least some of T. Rowe’s IT operations. A Bala case study suggests the site includes a 55,000 sq ft (5,110 sqm) data center facility with 20,000 sq ft (1,860 sqm) of white space.

T. Rowe has signed a sale-leaseback agreement with Amazon that will let it “operate as usual” while the firm “evaluates future needs,” a company spokesperson told BJ. “We continually assess our real estate portfolio to ensure it supports our workforce strategy, enhances the associate experience, and positions the firm for future success.”

Amazon confirmed the purchase to BJ. Despite acquiring the property through an affiliate that normally conducts data center development business, Amazon said it does not have plans to build data centers on the property.

Amazon Web Services does, however, offer an enterprise data center sale-leaseback program. Amazon has previously acquired two data centers outside Worcester in Massachusetts from financial services firm State Street.

A known customer of Amazon, a recent T.Rowe job spec for a role based in Owings Mills noted the company was migrating on-premises workloads “to AWS as part of the data center exit strategy.”

Founded in 1937, T. Rowe is a global asset manager with $1.6 trillion in assets under management. The company first launched operations in Owings Mills in 1990, adding a Technology Center in 1996.

Amazon does have an existing data center footprint in development in Maryland. AWS has previously announced plans to expand its US East (Northern Virginia) cloud region into the Old Line State, taking up space in TPG’s Quantum Frederick Park in Adamstown.

The cloud giant is also set to land its US-Ireland subsea cable, Fastnet, in Maryland near Ocean City.

Amazon is also linked to a potential data center development in Calvert County, Maryland, close to the Calvert Cliffs Nuclear Power Plant.