An affiliate of SDC Capital Partners, a global data center investor, has acquired land in Leesburg, Virginia, that has been approved for five new data centers for more than $600 million.
NoVA businessman Chuck Kuhn’s company, JK Land Holdings, sold the land parcel for $615 million, which included 97 acres on the south side of Cochran Mill Road immediately north of the Washington & Old Dominion Trail, reported the Washington Business Journal. The deal equates to more than $6 million per acre, believed to be the highest raw land sale ever recorded in the region.
JK Land Holdings had paid $57 million to acquire the assemblage, known as Twin Creeks, across multiple transactions largely in 2021. The company then secured approvals for five two-story data centers, totaling 1.6 million square feet, as well as a Dominion Energy substation. Dominion Energy previously paid $45 million for an adjacent substation site.
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