Real estate firm TA Realty has sold two data center buildings in Leesburg, Virginia.

The company and its data center development arm, TA Digital Group (TADG), this week announced the sale of two hyperscale data center buildings totaling 745,000 sq ft (69,210 sqm) and 165MW of IT load capacity in Leesburg, Loudoun County.

Terms of the sale weren’t shared.

The facilities are the first two completed and fully leased buildings within a planned five-building, 450MW campus developed for a single hyperscale tenant.

“This sale is a significant milestone for TA Realty and TADG,” commented Allison O’Rourke, partner at TA Realty. “It reflects our strategy of developing build-to-suit facilities for hyperscale customers in Tier 1 US markets and monetizing assets upon stabilization. Northern Virginia is the premier global data center market, and the completion and sale of these initial buildings demonstrates the strength of our development and execution capabilities.”

Mitsubishi Estate-backed North American real estate investment firm TA Realty launched a dedicated hyperscale data center development arm last year.

Plans for a large campus were announced in Leesburg back in May 2021, with work starting in 2023. The 430MW build-to-suit campus is set to comprise five buildings and 1.9 million sq ft (176,515 sqm). The entire campus is set to be leased to an unnamed global cloud provider. Full build-out is expected in 2027.

“Being able to assemble the land to support a development of this scale, which also included partnering with some of the local utilities to add additional infrastructure that will not only support this project but provide for growth in the surrounding area, is also part of our strategy in these Tier 1 markets” commented Tim Shaheen, partner at TA Realty and chief development officer at TADG. “The scale of this campus enabled the delivery of two independent substations to support grid power, providing a level of redundancy and capacity that is increasingly difficult to achieve in core markets.”

TA Realty’s data center platform totals more than 12 projects owned or controlled across its investment vehicles, representing nearly 3GW of power capacity. In addition to Northern Virginia, TADG’s platform includes assets in Chicago and Atlanta, with plans to expand further.