PRP acquires land for data center project in Virginia

PRP, an investment management firm focused on credit net-lease investments, has acquired an initial 22.4 acres of a larger development site that will ultimately yield up to 1 million square feet of data center buildings and a dedicated power substation.

The land was acquired from Allan Meyers Construction for $20 million. Upon full development, PRP will deliver three powered shell buildings for lease to hyperscalers and one dedicated power substation. The site is strategically located close to other existing and planned data centers in the heart of Prince William County’s Data Center Overlay district in Virginia.

More than 70 percent of the world’s data center traffic flows through Northern Virginia. Exponential growth of data usage has created immense secular demand for new data center sites in land-constrained Northern Virginia, the largest data center market in the world. More than 3,500 technology companies leasing and/or owning 30 million square feet of data c