JLL Completes 280-Acre Land Sale At Washington Dulles Gateway
Highly significant Northern Virginia land parcel sold to New York-based Sentinel Data Centers.
JLL has announced the sale of Washington Dulles Gateway in Loudoun County, Virginia for the price of $82.5 million, or $589,000 per usable acre to Sentinel Data Centers. The 280-acre site will net approximately 140 acres of net developable land and is one of the largest contiguous land parcels remaining for data center development in Northern Virginia.
"The JLL team worked diligently through leveraging our global platform to identify the most qualified buyer for Washington Dulles Gateway," said Mark G. Levy, managing director, who led the JLL team. "Given the significant demand that continues to exist for data center product in Loudoun County, we were able to achieve a tremendous outcome for our client. When we began the conversation with Sentinel, it was clear they had the market knowledge and sophistication necessary to execute a complex transaction such as this."
The transaction marks Sentinel Data Centers' second venture in Northern Virginia; the data center company previously purchased 65 acres in Loudoun County in 2017.
"Seventy percent of the world's internet activity runs through Loudoun County," states Jay Taustin, ownership representative. "We are extremely pleased to have sold this important land parcel to Sentinel Data Centers, who provide world-class facility infrastructure, engineering acumen, technical personnel and operations protocols to its users, to the digital landscape of our region."
JLL's Levy, Matthew Gallagher and Jonathan Walk acted as the seller's exclusive real estate representatives, John W. Farrell, Esq. of McCandish Lillard acted as Seller's transactional counsel and Michelle Rosati, Esq. of Holland and Knight acted as Seller's land use counsel.