According to Business Journals, the St. Louis-based Sansone Group and Silver Spring-based Priseda paid $29 million for a 214,000-square-foot Tier 4 data center in White Oak/Silver Spring, Maryland.
According to Nick Sansone, a principal at Sansone Group, this acquisition represents a turning point for the company. As we grow our platform, we can better address the demands of today’s most creative users and stay in line with significant macroeconomic developments by entering the data center market.
Sansone Group’s attempts to diversify its national investment portfolio and penetrate one of the most dynamic asset classes in commercial real estate have reached a significant milestone with the off-market acquisition, according to the press statement. To gain the chance, Sansone teamed up with Priseda, a longtime tenant of the property.
According to Sansone Group, the facility provides a strong alternative to the Northern Virginia data center market because it is situated in the highly sought-after Washington, DC metro area. There are now less than 1% of openings in the Northern Virginia market, and demand from AI and hyperscale users is growing.
JLL Capital Markets sourced debt funding from the Poverni Sheikh Group, a Maryland-based company.
