QTS yesterday unveiled some big plans for expansion in northern Virginia. Apparently they have been acquiring land in Ashburn over the last few months, and have now begun new construction on a campus of what could reach 700,000 square feet and 140MW of power.
Since the end of the second quarter, QTS has closed deals for 24 acres at $17M in cash, and 28 acres for $36M in cash. The sites are in Ashburn but also adjacent to its existing Vault campus in Dulles, which probably means behind it on the undeveloped land right across Sully Road/Route 28.
QTS has already begun construction on the 24 acre site, with phase 1 to be available by mid 2018. They have pre-leased 2.2MW, which is over half of Phase 1, to a global health insurance provider.
Meanwhile, the company has big plans in other markets as well. QTS says it has acquired 84 acres of land in Phoenix for $24M, as well as 92 acres of land in Hillsboro, Oregon for $26M. Buildouts on those properties aren't yet formally on the table, but we will probably hear more about that in the quarters ahead.
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