CyrusOne Purchases 40 Acres In Northern Virginia
CyrusOne acquires a portion of Kincora mixed-use development property and is projected to bring in $1 billion in new investments to Loudoun County, VA.
CyrusOne has purchased a 40-acre parcel of Kincora — a 6.7-million-square-foot, mixed-use development property — in Northern Virginia. This purchase and the construction activities to follow are projected to bring $1 billion-plus in new investments to Loudoun County.
“The opportunity to add new real estate to our portfolio while also helping the Loudoun community grow and develop is the type of transaction that CyrusOne aspires to attain,” said Kevin Timmons, chief technology officer, CyrusOne. “Adding this new Northern Virginia location will not only benefit our growth trajectory, but is also vital to continuing to serve our Fortune 1000 customers along the East Coast.”
CyrusOne’s purchase of the Kincora parcel also resulted in the first designated reimbursement to the public-private partnership that is funding the extension of Pacific Boulevard and Gloucester Parkway. The Virginia Transportation Infrastructure Bank (VTIB), the lender for Kincora that is financing the Pacific Boulevard extension, received payment of more than $8 million when CyrusOne acquired the land. This figure represents the first designated repayment of VTIB proceeds from any road project funded by VTIB since its creation in 2011.
The Gloucester Parkway extension is anticipated to be completed in July 2016, and the Pacific Boulevard extension has a target completion date of December 2016. Both extensions are designed to provide Loudoun County residents and workers significant congestion relief through the construction of two additional bridges over Broad Run.
CyrusOne currently operates a 129,000-sq-ft facility in Sterling, VA, and is nearing completion of a second data center on the property. With seven layers of physical security, the Sterling facility is designed with CyrusOne’s Massively Modular® engineering. This data center has direct access to CyrusOne’s National Internet Exchange (IX) platform points in the United States. The superior fiber-connectivity options of this region make it an ideal place to locate high-performance computing facilities.
Northern Virginia is home to one of the world’s largest clusters of data center real estate, known as “Data Center Alley,” with up to 70% of the world’s Internet traffic passing through Loudoun County on a daily basis. The Northern Virginia facility is located 10 minutes from Washington Dulles International Airport (IAD) and 30 minutes from Ronald Reagan Washington National Airport (DCA), in addition to being conveniently close to dozens of hotels, restaurants, and other amenities.