ATLANTA — CBRE facilitated the sale of 615 acres in Fayetteville, Georgia, to Quality Technology Services. QTS plans to develop the world’s largest multitenant data center campus on the property.
Tim Huffman and Mike Lash of CBRE represented and advised the seller, the Fayette County Development Authority (FCDA), in the deal and procured the buyer. The land was sold for $153.8 million, or approximately $250,000 per acre.
“The specific expertise that Tim Huffman and his CBRE teammates Mike Lash and Saisha Tsaku provided was paramount to the amazing outcomes of our project,” said Megan Baker, president, FCDA. “The many layers of our project included multiple landowners and option holders, annexation and re-zoning, massive utility improvements, and tax incentives. Tim and his team gave us the data center benchmarks we needed to navigate the complexity of a project of this scale. Additionally, their high-level data center industry contacts enabled them to bring the buyer to the table.”
Spread across multiple parcels, the sale of the site, which is located approximately 25 miles south of downtown Atlanta, represents one of the largest land deals executed in metro Atlanta this year.
“The FCDA executed on an amazing strategy that will bring exceptional revenue benefits to the city and county and high-quality jobs for decades to come,” said Huffman, executive vice president at CBRE in Atlanta. “Georgia continues to thrive as a premiere global data center market. One of the key drivers for metro Atlanta is readily available access to reliable power and fiber connectivity.”
Atlanta is currently home to 249.5 MW of data center capacity, a 71.7-MW increase from the first half of 2021, according to a recent CBRE report. Atlanta’s data center market has seen strong demand, with its current stock of space currently sitting at just 3.6% vacancy.