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Highly significant Northern Virginia land parcel sold to New York-based Sentinel Data Centers
Washington, DC, July 5, 2018 - JLL announces today the disposition of Washington Dulles Gateway in Loudoun County, Virginia for the price of $82.5 million, or $589,000 per usable acre. 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 Purchaser of the project is Sentinel Data Centers.
"The JLL team worked diligently through leveraging our global platform to identify the most qualified buyer for Washington Dulles Gateway," notes 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.
For more information about JLL Mid-Atlantic, visit http://www.jll.com/washington-dc/en-us/our-offices.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with nearly 300 corporate offices, operations in over 80 countries and a global workforce of 83,500 as of March 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
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