Amazon Pays Record $700M For Northern Virginia Data Center Site: The D.C. Deal Sheet
Amazon Data Services paid $700M for a data center development site in Prince William County in a deal that works out to $3.7M an acre.
The tech giant purchased 70% of the 270-acre Devlin Technology Park from Stanley Martin Homes, the Washington Business Journal reported, citing two sources with knowledge of the deal. The remainder of the land is being reserved as open space.
Stanley Martin spent $51M to assemble the site, which is entitled for up to 3.5M SF of data center development and up to three substations. Eastdil Secured was the homebuilder’s adviser in the transaction, which is the largest land deal in Virginia history, the WBJ reported.
It comes after Stanley Martin won a zoning challenge from seven residents last month over its ability to build data centers on the land. A three-judge appeals panel ruled in favor of Stanley Martin and Prince William County on Sept. 16 after the residents alleged an improper approval process.
SALES
A Brookfield affiliate sold a 197K SF office building next to Franklin Square to Taicoon Property Partners, the WBJ reported. Arlington-based Taicoon paid $35.5M for 1400 K St. NW and took out a $22.4M loan from CTBC Bank for the purchase. Newmark’s Ed Clark and Doug Mueller have been retained to lease the property, which is about 60% occupied. Taicoon is planning a $10M renovation.
LEASES
Onelife Fitness is opening a 53K SF location at Edens’ Mosaic District in Fairfax, it announced this week. In addition to typical gym cardio and weight equipment, the new location at 2910 District Ave. will include red light therapy, a sauna, a cold plunge, compression therapy and HydroMassage. The fitness brand said it now has more than 32 locations in the DMV, spanning nearly 2M SF. It billed the Mosaic District location as a $10M project.
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Nordstrom Rack is opening a 26K SF location in Rockville, the company announced. The discount department store is taking space at Federal Realty Investment Trust’s Congressional Plaza and expects to open in the fall of 2026. Maryland already has three Nordstrom stores and six Nordstrom Rack stores.
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Scale AI is expanding its D.C.-area office in a move from downtown D.C. to Arlington's National Landing neighborhood. The company is moving from TF Cornerstone’s 2121 K St. NW, where it has 5,500 SF, and is taking 22K SF at JBG Smith’s 2231 Crystal Drive. The move is part of a series of office relocations and expansions. The company is also moving and growing its footprints in New York, St. Louis and London.
FINANCING
Dauntless Capital Partners received a $34.4M construction loan from Artemis Real Estate Partners for an office-to-hotel conversion near Judiciary Square. Dauntless is partnering with Calco Hospitality to convert the vacant office building at 601 Indiana Ave. NW into a 122-unit hotel. Dauntless, the private equity affiliate of Twin Bridges Hospitality, purchased the 62K SF property at a foreclosure sale last November.
PERSONNEL
Two of FD Stonewater’s 10 principals are retiring, the Arlington-based real estate firm announced Friday. Joseph Delogu and David Stade were co-founders of the firm in the early 2000s. Delogu co-led its brokerage platform, and Stade co-led its principal investment and asset management platform.
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Mayor Muriel Bowser announced that she has selected Department of Buildings Director Brian Hanlon to lead planning and delivery of the new RFK Stadium and surrounding infrastructure. Hanlon, who will stay on in his director role, will work to “ensure the stadium is delivered by July 2030,” Bowser’s office said in the announcement.
It came with two other personnel changes in the mayor’s office: Chief of Staff Lindsey Parker is becoming senior adviser to the mayor, and Tomás Talamante will serve as the mayor’s chief of staff in addition to leading the office’s intergovernmental affairs portfolio.
