Commercial Real Estate Microsoft makes a massive buy in Loudoun County

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Microsoft Corp. this week paid nearly $73 million for about 332 acres in Leesburg, providing yet another boost to Loudoun County’s status as a hub for the world’s largest tech companies.

 

The sale between Microsoft (NASDAQ: MSFT) and Leesburg Commercial LLC, according to public records, covers much of Compass Creek, a planned commercial development of the Peterson Cos. that borders Loudoun and the town of Leesburg.

 

When accounting for Microsoft, and the Walmart and Ion International Training Center now under construction there, Compass Creek has between 75 and 80 acres remaining to be developed.

 

Taylor Chess, Peterson’s president of development, said the Fairfax-based developer is “very pleased to be working with one of the world’s largest tech companies” and, moving forward, will do whatever is needed to help Microsoft build there. Chess said he does not know what Microsoft plans for the site.

 

“As demand grows for online and cloud services, we are continuously exploring new opportunities to support our business operations," a Microsoft spokesperson said in an email. "We continue to invest in Virginia, but have nothing further to share at this time."

 

While it is unclear what the Redmond, Washington-based tech giant will do with its land, a good bet is, of course, data centers — with maybe some office mixed in. Loudoun is, after all, among the world's largest data center markets, if not the largest. Microsoft's now-monster county presence comes as Amazon Web Services (NASDAQ: AMZN) continues to grow its data center portfolio there, and Google (NASDAQ: GOOG) has bought into Loudoun as well — in the Chantilly area and near Leesburg.

 

"I’m very excited that Microsoft has made this commitment to Loudoun County," Buddy Rizer, Loudoun's economic development director, said in a statement. "Loudoun continues to evolve as a technology location and I’m very confident this will be a very successful campus for the future of one of the worlds great companies."

 

According to JLL, since 2010 Northern Virginia’s data center supply has grown by 115 percent in gross square footage and by 316 percent in megawatts, almost all of which can be found in Loudoun and Prince William counties.

 

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