Greysteel has arranged the sale of Culpeper Technology Park, a 71-acre data center development site at 15140 Keyser Road in Culpeper, Virginia. The property is located within the Culpeper Tech Zone, an area planned as a dedicated corridor for data center development clustered around existing critical infrastructure.
Blue Owl Capital, acting through its portfolio company Stack Infrastructure, acquired the site from RACM for $66.35 million. Greysteel Senior Director Zach Benlemlih represented RACM in the disposition, marking his firm’s seventh transaction in Culpeper and its second time representing the seller on this particular asset, including the original acquisition.
The Culpeper Technology Park transaction involves land that has already secured by-right zoning for data center use, reducing entitlement uncertainty for the buyer. The site offers direct access to multiple fiber networks, providing connectivity advantages for future data center development, and is situated near significant power capacity, a key requirement for large-scale digital infrastructure users.
According to Benlemlih, demand for entitled, power-proximate land in the Mid-Atlantic region has increased as supply in Northern Virginia’s core data center markets becomes more constrained. He characterized the sale as a reflection of this tightening supply dynamic, with investors and operators seeking locations that can leverage existing infrastructure while offering room for new capacity.
The Culpeper Tech Zone is designed to concentrate data center investment in a defined area, aligning land use planning, zoning, and infrastructure to support continued growth of the sector. The recent rezoning at Culpeper Technology Park is the latest approval within this zone, positioning the site for future development activity by Blue Owl Capital and Stack Infrastructure as demand for data processing and storage continues to expand.
By securing a fully zoned site with fiber connectivity and nearby power resources, the buyer gains a strategic foothold in a Mid-Atlantic submarket that aims to complement, rather than replace, established Northern Virginia data center hubs. For the seller, the closing extends an ongoing relationship with Greysteel in the Culpeper market and demonstrates continued liquidity for well-located, infrastructure-ready land.
