Iron Mountain has acquired land zoned for data centers in Virginia’s Prince William County.
First reported by BisNow, real estate firm PRP Real Estate Investment Management has sold a 40-acre property in Manassas to Iron Mountain for $113.5 million.
Update: Iron Mountain has confirmed the Manassas land purchase.
The company said the 40-acre development site in Manassas is planned for two new data center buildings comprising an estimated total of 150 MW additional capacity to Iron Mountain’s existing Virginia campus. This development plan includes a new electricity substation to ensure continued uninterrupted power supply across the campus.
Mark Kidd, EVP & general manager, asset lifecycle Management and data centers, Iron Mountain, said: “The Commonwealth of Virginia has abundant infrastructure, a highly skilled workforce, strong fiber connectivity, and is a pro-business community - making it an ideal location to support our commitment to investing in high-growth markets that help drive our expansion strategy. As a leading data center provider, we're excited to offer further critical capacity to our retail and hyperscale customers where and when they need it most.”
Original story resumes:
PRP assembled the site, which it calls Manassas Point, out of three parcels it acquired between 2022 and 2023. The company then rezoned the parcels into one, allowing for up to 1.1 million sq ft (102,195 sqm) of data centers across three buildings and a 300MW substation.
A site plan from PRP suggested three three-story facilities – one offering 443,520 sq ft, and two spanning 318,780 sq ft of gross floor area.
“We are very excited and proud to have orchestrated this complicated project in a very challenging Data Center environment,” PRP managing director Steve Muller said. “Importantly, this is a win/win transaction for everybody and will bring significant economic development to Prince William County while strengthening Iron Mountain’s development pipeline and commitment to the Manassas community.”
PRP acquired the first portion of the site, at 7816 Bethlehem Road, from Allan Meyers Construction for $20 million in 2022. The land was rezoned for data centers over the summer.
Iron Mountain currently operates a 142-acre campus outside Manassas in Virginia’s Prince William County. The newly acquired site is a few miles away from the company’s existing Manassas campus.
Up to nine facilities totaling more than two million sq ft (185,805 sqm) and 280MW are planned on the original site. Five are currently operational and two more are in development.
Further south, the company recently acquired 66 acres of land outside Richmond, Virginia. The land, at 6110 Technology Creek Drive within the White Oak Technology Park, is set to host a 200MW data center campus.
2021 saw PRP announce plans to diversify away from office properties to increase focus on industrial and data center assets in the wake of Covid-19 and a major drop in office occupancy.
