JK Land Holdings, LLC has purchased a property in Virginia with two buildings, including commercial office and industrial space, for $60 million.
The properties are located at 19886 Ashburn Road in Loudoun County on a 25.29-acre site. The three-story office building is 110,000 square feet. The industrial complex, which includes a research and development structure, is one story and 80,000 square feet.
The warehouse features two or four ramp-high entry gates, a parking lot, and ceiling heights of up to 20 square feet. Additionally, the two buildings are close to amenities such as Ashbrook Commons, One Loudoun, Belmont Chase Center, and Lansdowne Town Center. Dulles International Airport is eight miles away.
Both buildings represent the headquarters of Telos Corporation, which the technology and cybersecurity company has used since 1988.
In addition, JK plans to build a 360,000 square meter data center on the property. No specific time frame was given.
Finmarc Management, Inc., which has owned the site since 2019, has sold the site to JK.
“The buyer has acquired a site with the appropriate entitlements to develop a new data center in a market where supply constraints continue to be experienced,” said David Fink, co-founder and managing director of Finmarc, in a statement.
“We continue to aggressively seek new real estate opportunities throughout the Mid-Atlantic and Carolinas and fully intend to redeploy the proceeds from this sale to achieve our acquisition objectives.
“Our team is particularly interested in acquiring underperforming properties that provide us with the opportunity to create long-term value through the implementation of our proven leasing and asset management protocols.”
According to Finmarc, which cites data from the Virginia Economic Development Partnership Virginia, the state operates the largest data center hub in the world, with over 35 percent of the sites located in the northern region. In addition, the median household income in Loudoun County, at over $206,000, is the highest in the country since 2007, according to Finmarc.
JK was represented in the sale by Ryan Goeller of KLNB.
