As reported by Michael Neibauer of the Washington Business Journal, another massive data center land deal just dropped in Northern Virginia — this time in Leesburg.
According to public records, JK Land Holdings, led by Chuck Kuhn (the CEO of JK Moving Services in Sterling), sold 97 acres of fully entitled data center land for $615 million to an affiliate of SDC Capital Partners. That’s a staggering $6.3 million per acre, believed to be the highest raw land sale ever recorded in the region.
What makes this deal so huge
This sale comes just one day after Amazon’s $700 million purchase of Devlin Tech Park in Bristow — meaning Northern Virginia just saw over $1.3 billion in data center land deals in less than 48 hours.
JK Land Holdings originally acquired the Leesburg site, known as Twin Creeks, for about $57 million in 2021. The company then secured approvals for five two-story data centers totaling 1.6 million square feet, plus a Dominion Energy substation. Dominion later bought 13 acres nearby for $45 million.
In total, Kuhn’s entities turned a $64 million investment into nearly $700 million, an astonishing 10x return.
If you’re curious what this means for local property values, take a look at the latest homes for sale in Leesburg — a market where tech infrastructure meets historic charm and family-friendly neighborhoods.
See the Newest Leesburg, VA Real Estate
Why it matters
Even as Loudoun County and neighboring jurisdictions face increasing political pressure to rein in new data centers, this sale proves that the demand for entitled land remains off the charts. Developers and investors are paying premium prices for sites already cleared to build — because the entitlement process in Northern Virginia has become so tough.
As Buddy Rizer, Loudoun County’s Director of Economic Development, told the Washington Business Journal:
“Despite long power delivery timelines and other challenges, the demand and value proposition for data centers in Loudoun remains strong.”
He’s right. Loudoun County is still the global capital of digital infrastructure — hosting roughly 200 data centers that move about 25% of the country’s internet traffic.
The big picture
Northern Virginia has become the most valuable patch of digital real estate on Earth.
In the span of two days, more than $1.3 billion worth of data center land changed hands. What started as farmland is now selling at prices that rival Manhattan real estate.
This is the new face of economic development in NoVA — not just tech jobs and suburban growth, but the infrastructure that powers the entire internet.
As reported by Michael Neibauer, Washington Business Journal
Read the full report at WashingtonBusinessJournal.com.
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