Mitsubishi Estate subsidiary TA Realty has announced plans to develop a new $1.8 billion data center campus in Loudoun County, Virginia.
Situated on the east side of Sycolin Road in Leesburg, the fully built-out campus will feature over 1.5 million square feet (139,500 sqm) of space with 300MW of capacity, and a dedicated onsite substation. The first buildings are expected to come online in late 2021.
Mitsubishi Estate enters US data center market through TA Realty
“Delivering this transformational project is part of our commitment to invest more capital into this in-demand asset class,” said Michael Haggerty, managing partner at TA Realty. “Our campus will address the needs of hyperscale and cloud providers by delivering sustainable data center infrastructure with speed and scale into the largest and most sought-after data center market in the world.”
The company says the greenfield development is ‘shovel ready,' atop major fiber routes, and designed to deliver clean energy solutions. The site is close to Compass Datacenters’ Loudoun County I campus.
TA Realty LLC, which provides real estate investment management services to investors, is owned by the Rockefeller Group, which itself is a subsidiary of Mitsubishi Estate, the real estate arm of the former Mitsubishi Group.
Nikkei reports that Mitsubishi Estate is funding the campus through a joint investment with equipment leaser Tokyo Century, and will reportedly create a real estate investment trust dedicated to data centers within three years in order to draw capital to fund the construction of the remaining facilities and expand further.