Washington, D.C.-based real estate investment management company PRP has recently completed the sale of its Northern Virginia data center property in Prince William County. The buyer, Iron Mountain Inc., paid a total of $113.5 million for the 40-acre site, which equates to $2,837,500 per acre.
Known as Manassas Point and located in the industrial hub of Manassas, this heavy industrial-zoned land was originally acquired by PRP as three separate properties. They then developed plans for a state-of-the-art 1.1 million square foot data center campus.
According to Steve Muller, Managing Director at PRP: “We are thrilled with the success of this complex project in such a competitive Data Center market.” He went on to add that it is not only beneficial for all parties involved but also brings significant economic development opportunities for Prince William County while furthering Iron Mountain’s commitment to the local community.
This transaction marks another milestone achievement for both companies and highlights their dedication towards growth and innovation within their respective industries.
