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QTS finishes $137m purchase of rezoned Henrico tech park land
July 23, 2024
Data center company bought White Oak Technology Park II site
QTS Data Centers has secured ownership of all 622 acres of the recently rezoned site for the White Oak Technology Park II project in Henrico County’s Sandston area for approximately $137 million.
On June 28, a limited liability company belonging to QTS bought the remaining portion of the site that it hadn’t yet acquired — about 397 acres — for $118.8 million from a limited liability company belonging to Richmond development company Hourigan, county records show. Hourigan shepherded the land through its county rezoning process to light industrial.
The LLC owned by Hourigan purchased the land that day, buying about 223 acres for $38.05 million from Atlantic Crossing and 174 acres from Vienna Finance for $20.5 million.
“[QTS] came to us with a vision and a plan for eastern Henrico that allowed them to have complete control of that entire site,” said Hourigan founder and CEO Mark Hourigan, “and in evaluating all the options and ways that we might be able to consider moving forward with that, we thought that was the best long-term outcome for the county and for that site, is to have someone with a proven track record [and] the capital behind them to be able to make that kind of investment.”
