Amazon, through its cloud services segment, Amazon Web Services (AWS), and IPI Partners, a digital infrastructure private equity firm, which is a joint venture between ICONIQ Capital and Iron Point Partners, have exchanged land and powered shells in Northern Virginia through two transactions worth a combined $233.3m. As part of these deals with Amazon, STACK Infrastructure, a hyperscale data center developer and operator which is backed by IPI Partners, is gaining further developable land in Northern Virginia.
Through two separate transactions, Amazon Web Services (AWS) purchased 56.7 acres of land and two powered shells in Loudoun County from IPI Partners for $146m (Quail Ridge) and sold 92.0 acres of land in Prince William County to STACK Infrastructure, which is backed by IPI Partners, for $87.4m (Innovation Drive).
Quail Ridge – Amazon Web Services (AWS) Buys from IPI
On December 30, 2021, Amazon.com, Inc., through its wholly-owned subsidiary Amazon Data Services, Inc., acquired 56.7 acres of land and two powered shells located at 24214 and 24244 Quail Ridge Lane in Aldie, Loudoun County, Virginia. Specifically, Amazon acquired this property for $146m, implying a valuation of $2.57m per acre. The seller was Quail Ridge NCP LLC, an entity controlled by IPI Partners.
As shown above, Amazon Web Services’ Quail Ridge site entrance is positioned on the north side of John Mosby Highway (Route 50), ~1-mile west of Stone Springs Boulevard (Route 2625). Also, the land parcel is southwest of Arcola Mills Drive (Route 621) and west of Arcola Boulevard (Route 842).
Notably, Amazon Web Services’ site is adjacent to a 67-acre land parcel, known as IAD 11, owned by Microsoft Corporation, located at 41840 Growth Mindset Lane in Aldie, Loudoun County, Virginia.
Per Quail Ridge’s latest approved site plan, the development of six buildings, with a combined gross floor area (GFA) of 992.3k sqft for data center use is possible at the site. To-date, two out of these six buildings, namely Building A and Building B, have already been constructed, totaling GFA of 412.4k sqft.
Below is a further breakdown of the potential building layouts at the Quail Ridge site:
|Data Center||Status||Height||Square Feet|
Innovation Drive – IPI’s STACK Buys from Amazon
On December 29, 2021, STACK Infrastructure, through the entity STACK Innovation Holdings LLC, acquired 92.0 acres of land located at the end of Innovation Drive in Manassas, Prince William County, Virginia. Particularly, STACK acquired this land for $87.4m, implying a valuation of $950k per acre. The seller was Amazon.com, Inc., through its wholly-owned subsidiary Amazon Data Services, Inc.
In February 2022, STACK Infrastructure separated this site into five distinct land parcels, located at 10675 University Boulevard, as well as 9680, 9700, 9720, and 9740 Innovation Drive in Manassas, Virginia.
Manassas, Prince William County, Virginia
STACK Infrastructure’s Innovation Drive forms part of a growing cluster of data centers and developable land which the company owns in Manassas, Virginia. Firstly, STACK controls another 25 acres located on the other side of Prince William Parkway (Route 234), where its NVA02/03 and NVA04 data centers are situated. Secondly, the company is developing a further 34 acres of land, only 1 mile to the northeast, at its NVAL3 campus.
NVA02/03 and NVA04
STACK Infrastructure’s NVA02 and NVA03 data centers are situated on 25 acres at 9750 Hornbaker Road in Manassas, Virginia and are adjacent to a 250-megawatt substation. Additionally, on the same land, NVA04 is a powered shell facility offering 72 megawatts of power capacity across 700k sqft.
STACK Infrastructure is developing a new 84-megawatt, 602k sqft, hyperscale data center campus at 8911 Freedom Center Boulevard in Manassas, Prince William County, Virginia, which will be known as NVAL3.