Loudoun Announces New Spec Building by Merritt Properties
The Loudoun County Department of Economic Development is pleased to announce the groundbreaking for a 72,900 square-foot, single-story flex-industrial building located at 20700 Loudoun County Parkway in Ashburn, Virginia. The groundbreaking event for Merritt Properties’ $10 million project will be held on Tuesday, September 9, 2014.
“The fact that Merritt Properties has the confidence to build spec flex space now is a great sign of a healthy outlook for the Loudoun market,” said the Chairman of the Loudoun County Board of Supervisors Scott York.
Developers typically construct projects with tenants already lined up to lease space. Merritt is building this project speculatively and is working with Transwestern as the listing broker.
Merritt Properties is an award-winning commercial real estate developer with more than 16 million square feet of Class A office, flex, retail and warehouse space in more than 70 locations. Merritt owns and manages the largest privately held commercial real estate portfolio in the Baltimore/Washington region.
“Merritt enjoys working with the Loudoun County team on commercial development projects because they’re experienced, they understand our business and they want to meet our deadlines,” said Michael Larkin, the head of Merritt’s Virginia office.
Merritt’s latest Loudoun property is near the intersection of Route 7 and Loudoun County Parkway near the One Loudoun development.
“The abundant fiber, access to reclaimed water lines and electrical power available to this site make it an ideal location for a data center,” said Loudoun Economic Development Director Buddy Rizer. The building is located near a six-mile area of Loudoun County known as “Data Center Alley.” Up to 70 percent of the entire world’s Internet traffic flows through Loudoun’s 50-plus data centers each day.
Construction on the building is expected to be completed by January 2015.