A data center in Maryland has been acquired by a local real estate firm.

Nick Sansone, principal at commercial real estate firm Sansone Group, recently announced the company had purchased 12401 Prosperity Drive, a data center in Silver Spring. Sansone partnered with Priseda, a longstanding tenant of the property, to acquire the property.

Poverni Sheikh Group reportedly provided the loan to acquire the site, sourced by JLL Capital Markets. Terms were not provided, but BizJournal puts the figure at around $29 million.

BJ noted the property's seller was Prosperity Drive Data Center LLC, a partnership of Lincoln Property Co. and Principal Real Estate Investors LLC, an affiliate of Principal Global Investors. The companies declined to provide comment to the publication.

“This acquisition marks a pivotal moment for Sansone Group,” said Sansone. “As we continue to scale our platform, further expanding into the data center space allows us to align with major macroeconomic trends and meet the needs of today’s most innovative users.”

Built around 2009, the 214,000 sq ft (19,880 sqm) facility is described as a Tier IV-quality data center with potential capacity expansion up to 100MW. The site reportedly has a long-term lease with an anchored tenant, with active additional leasing discussions underway for greater capacity. Some online listings report that the site currently offers around 5MW of capacity.

Priseda was described by Sansone as a "long-standing tenant in [the] building and a pioneer in immersion cooling technology, who will play a pivotal role in serving new tenants in the AI, cloud computing, and hyperscale sectors.”

The company is a managed services provider, offering cloud, cybersecurity, backup & recovery, and network services, and is based out of the facility.

Lincoln Rackhouse, the former data center division of Lincoln Property, took over the site in 2019 after buying ByteGrid and acquiring the facility alongside Agile Data Sites. Before that, Citi owned it, having bought it in 2011 for $34 million.

Hosting company ByteGrid still offers services out of the facility, according to its website. DataBridge Sites, a US colocation provider formed from Agile Data Center Sites merging with ESite Systems, also lists the facility on its website. As does Adacen, which previously hosted an immersion cooling container from Australian firm DUG at the site.

DCD has reached out to ByteGrid, DataBridge Sites, Adacen, and Priseda for comment.