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ASB Real Estate Investments has fully divested its data center holdings with a deal to sell the three remaining facilities in its portfolio.
The D.C.-based firm sold three Infomart data centers in Ashburn, Virginia, San Jose, California, and Hillsboro, Oregon, to IPI Partners for an undisclosed price, the company announced Wednesday.
IPI has also acquired Infomart's management company, and Infomart will continue to manage the three facilities going forward. The deal comes after ASB sold its Infomart Dallas data center to Equinix last month for $800M.
The three data centers total 665K SF and have 27.2 megawatts of capacity. Each site includes potential expansion space that could add another 29.7 MW of total capacity.
ASB acquired the 180K SF Ashburn facility from AOL in 2014 for $34M. The data center sits at the corner of Pacific Boulevard and Waxpool Road in Ashburn. It is part of Northern Virginia's "Data Center Alley," which has emerged as a national hub for data centers.
With 692 MW of total capacity, the Northern Virginia data center market is the largest in the world, according to a recent CBRE report. The market delivered 85 MW of new supply in the second half of 2017 and has another 86 MW under construction, 20% of which is pre-leased.
ASB bought the Oregon data center in 2011 and the San Jose facility in 2008. Silicon Valley is the third-largest data center market in the U.S., according to CBRE's report, with 224 MW of total capacity. Dallas is the second-largest with 252 MW.
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