DataBank, a colocation and edge data center operator backed by DigitalBridge, today announced a new data center development in Ashburn, Virginia, which will be known as IAD3. Specifically, DataBank is breaking ground on a two-story, 200k sqft facility which will initially offer 4 megawatts of power capacity, with the ability to scale up to 40 megawatts.

DataBank – IAD3 Data Center – Ashburn, Virginia

DataBank’s IAD3 will be built on ~11 acres (478k sqft) of land that the company currently owns at 21630 Red Rum Drive, Ashburn, Virginia. Particularly, the land parcel is east of Ashburn Village Boulevard between Grace Bridge Drive and Red Rum Drive.

This site is adjacent to DataBank’s current NV1 data center in Ashburn, located at 21635 Red Rum Drive. Notably, DataBank gained its initial two facilities in Northern Virginia (see below) through its $1.4bn acquisition of zColo from Zayo.

Timing

DataBank expects that its IAD3 facility will be ready for service in Q1 2023.

Ownership

While DataBank owns the land at 21630 Red Rum Drive, for its new IAD3 data center development, it does not own the building where its current NV1 data center is housed, at 21635 Red Rum Drive. Instead, GI Partners, a private equity firm, owns the buildings at 21625, 21631, and 21635 Red Rum Drive via the entity GI TC Ashburn LLC.

Overall, DataBank’s new development demonstrates that, beyond purely expanding in the market, the company is seeking to secure its long-term future in Ashburn, Virginia by owning, instead of leasing its facilities.

DataBank – Overview

DataBank operates 60+ carrier-neutral data centers across 29 markets in the United States and Europe, which collectively support 30k+ interconnections.

Northern Virginia – Existing Presence

Presently, DataBank has two existing facilities in Ashburn and McLean, Virginia which together offer 22.5 megawatts of power capacity across 111k sqft of raised floor data center space. Particularly, these facilities are:

  • NV1: located in Ashburn, Virginia; this colocation facility provides 18 megawatts of on-site power capacity across 71k sqft. Additionally, in terms of critical IT Load, NV1 offers 10 megawatts
  • NV2: located in McLean, Virginia; this colocation facility provides 5 megawatts of on-site power capacity across 40k sqft. Also, in terms of critical IT Load, NV2 offers 2.7 megawatts

Ownership

DataBank is a portfolio company of DigitalBridge, which owns a 20% equity interest in the business through its balance sheet. Additionally, DataBank’s investors include Allstate Investments, CBRE Caledon (now CBRE Investment Management), Nuveen (TIAA), Dock Square Capital, and Adams Street Partners.

DigitalBridge – Northern Virginia Data Centers

Beyond DataBank, DigitalBridge owns meaningful stakes in two additional data center operators with significant presences in Northern Virginia’s Ashburn market.

  • Vantage Data Centers: at full build-out, Vantage’s Ashburn campus will comprise 5 data centers. Overall, these facilities will offer 146 megawatts of critical IT load, across 1.0 million sqft
  • Landmark Dividend: acquired a 1.2 million sqft data center portfolio, within Quantum Park campus in Ashburn, Virginia

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