SENTINEL DATA CENTERS RETAINS MINORITY INTEREST
Data infrastructure private investment firm, GI Partners, has acquired a hyperscale data center facility located in Sterling, Northern Virginia.
Known as 22262 Cloud Plaza (Cloud Plaza), the data center which belonged to Sentinel Data Centers was originally delivered and fully commissioned in 2019. The data center currently spans 238,000 square feet with a capacity to support 46MW of critical IT load. This facility also serves as a key network location.
“We are excited and proud to own one of the most densely networked data centers in Northern Virginia, the nexus of the world’s internet traffic,” said John Sheputis, Managing Director at GI Partners and Head of Acquisitions for GI Partners Real Estate.
“We are seeing increased net absorption for data center capacity broadly, and users placing premium value on locating at network-differentiated assets like Cloud Plaza. We believe that the addition of this fortress-like asset to our data center portfolio will reduce our overall risk while providing accretive returns over the long-term.”
As announced, the seller, Sentinel Data Centers, will retain a minority interest in the ownership of the property. And for this sales transaction, CBRE Data Center Capital Markets represented the seller.
“The GI Partners Real Estate team has been great to work with and a real class act. We are thrilled to be investing alongside GI Partners and continuing our involvement with this amazing asset,” said Josh Rabina, Co-CEO of Sentinel Data Centers.
Also in Northern Virginia, data center service provider, STACK Infrastructure, announced it plans to develop a new data center campus which will sit on a 34-acre site in Prince William County, having a full capacity of 84MW, and will comprise a minimum of two data center buildings spanning 602,000 square feet.
Corscale, a newly created hyperscale data center platform of the Patrinely Group, has also commenced construction at its 130-acre data center campus in Gainesville, Northern Virginia.