Kincora – the 6.7 million square foot mixed-use development at the corner of Route 7 and Route 28 – today announced the sale of 40 acres to CyrusOne, the global data center solutions and IT asset disposition provider. CyrusOne will bring $1,000,000,000 in new investment to Loudoun County, Virginia, through the development of data centers totaling over 900,000 square feet at the Southwest quadrant of the Nokes Boulevard/Route 28 interchange.
“We are excited that CyrusOne has chosen Kincora to locate its new data center,” stated Dan Coughlan, Principal, TRITEC Real Estate. “CyrusOne adds to the economic vitality of Loudoun County as well as demonstrates our commitment to creating a first-class lifestyle center at Kincora.”
The Virginia Transportation Infrastructure Bank (VTIB) serves as the lender for Kincora and is financing the Pacific Boulevard extension. VTIB received payment of over $8MM when CyrusOne acquired the land. This figure represents the first designated repayment of VTIB proceeds from any road project funded by VTIB since its creation in 2011. The Gloucester Parkway extension will be completed in late summer 2016 and the Pacific Boulevard extension will be completed late in the 4th quarter 2016, providing Loudoun County residents and workers with significant congestion relief through the construction of two additional bridges over the Broad Run.
Kincora’s master plan provides for millions of square feet to be used as Class A office and retail space, three hotels, a dedicated cultural and science center, and 1,400 apartments and condominium homes. Kincora aims to unite residences, businesses, retailers, technology, nature, education, hospitality and many other components to create an exciting 6.7-million-square-foot lifestyle center like nothing else in Loudoun County, VA.