Lincoln Rackhouse Acquires Portfolio in Reston/Herndon, VA
Lincoln Rackhouse, data center division of Lincoln Property Company, announced today that it has acquired from Netrality Properties two Northern Virginia data center properties, 1807 Michael Faraday Court and 251 Exchange Place. Freeman Group, a Dallas-based private investment firm partnered with Lincoln on the acquisition. The transaction expands the Lincoln Rackhouse footprint into the largest data center market in the country, and adds two key assets to a growing data center portfolio that already includes assets in Boston, Charlotte, New York and Dallas.
“The ability to enter the hottest data center market in the world with existing cash flow and immediate capacity available for lease was very appealing to us,” said Ryan Sullivan, Director at Lincoln Rackhouse. “The market saw absorption of over 70 MW of data center capacity in the first half of this year, and these properties present a unique opportunity for operators, providers and end users to enter or expand in the market right away, while other large data center developers and providers scramble to deliver new capacity as fast as they can to keep up with demand.”
The acquisition includes two properties, only a few miles apart, located directly on the primary fiber route in Northern Virginia, where according to one local economic development agency, over 70% of the world’s internet traffic passes.
1807 Michael Faraday Court (Reston, VA) is an operating data center with approximately 1MW of critical IT load, at 2N redundancy, and over 11,000 SF+ of raised floor space. The property presents opportunities for turn-key data center leasing from colocation suites to a full MW of critical capacity, which is partially leased today. (Click To See Flyer)
251 Exchange Place (Herndon, VA) is a former Level 3 facility, which has been recently vacated, and will be offered for lease for the first time in over 15 years. The Exchange property provides over 70,000 SF of shell space and 5MW of power available for lease immediately. Lincoln plans to offer this facility to potential customers with a variety of needs, from powered shell to build-to-suit, turn-key data center, depending on the requirement. (Click To See Flyer)
Lincoln Property Company’s Northern Virginia and Washington, D.C. offices will oversee management and leasing for each facility on behalf of the new ownership.
About Lincoln Rackhouse
Lincoln Rackhouse is the data center division of Lincoln Property Company. Headquartered in Dallas, Texas, Lincoln Property Company is one of the largest and most respected diversified real estate services companies in the industry. The Company employs over 4,000 professionals in over 100 markets in the United States and Europe.
About Freeman Group
Freeman Group is a private investment and asset management firm based in Dallas, Texas. The firm has a long history of investing in data center, IT and cloud services companies throughout the US, and seeks opportunities across the capital structure in both the private and public markets.
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