PWC announces COPT plans to construct two new data center facilities in Innovation Park data zone

The Prince William Board of County Supervisors announced Dec. 4 that a division of Corporate Office Properties Trust (NYSE: OFC) (“COPT”) plans to construct two new data center facilities in the Data Center Opportunity Zone Overlay District in Innovation Park.  Construction of the first building has begun.

According to Prince William County’s location puts it among the densest concentration of fiber networks in the world, the federal government, commercial enterprise, and consumers.  The County’s Data Center Opportunity Zone Overlay District offers over 10,000 acres designated to support data centers and provides the lowest computer tax rates in the region.

“We are delighted to help facilitate COPT’s expansion in Prince William County and one of the industry’s top markets in North America,” according to Corey A. Stewart, Chairman, Prince William Board of County Supervisors, in a news release.

COPT CEO Steve Budorick was quoted in the news release as saying, “Prince William County is a good choice for COPT to expand because of the abundant availability of land, power and low latency fiber connectivity found within Innovation Park” and “is a good partner in supporting our service delivery to our customers.”

“We are pleased to support COPT’s growth in the County and within Innovation Park,” according to a statement from Jeanine Lawson, Brentsville District Supervisor.” She added, “By providing a designated Data Center Opportunity Zone and positive business climate for high-caliber enterprise, the County provides an ideal environment that stimulates commercial growth which benefits businesses and residents alike.”

Northern Virginia remains the largest data center market in North America, with Prince William County having a significant share.  To date, Prince William County has logged 34 data center projects amounting to $6.9 billion in capital investment and 967 new jobs, as well as hundreds of tech and construction jobs.  The County’s expansive data center market exists in tandem with many other technology-orientated assets, including George Mason University, which has a prominent science and technology campus in Innovation Park.  It is also home to the first and only globally affiliated Serious Game Institute. 

About COPT
COPT is a Real Estate Investment Trust (REIT) that owns, manages, leases, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (IT) related activities servicing what it believes are growing, durable, priority missions (defense/IT locations).  The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundaments and characteristics (regional office properties).  As of September 30, 2018, the Company derived 88 percent of its core portfolio annualized revenue from defense/IT locations and 12% from its regional office properties, according to the county news release.  To learn more go to http://www.coptdata.com.