Summer Issue 2021 - 54

" We figured out a long time ago that our
customers-especially the ones focused
on air freight, logistics, and e-commerce
distribution-get paid to move freight,
not to store it. The best way to do that is
by giving them a lot of doors. "
-DAN GREEN, J.A. GREEN
The University of Central
Florida's College of
Medicine-Medical City
at Lake Nona.
Airports Authority in 2018 sold a 424-acre (172 ha)
tract to Digital Realty, a global data center developer,
for $236.5 million. Digital Realty operates data
centers close to major airports in other metropolitan
areas, but Digital Dulles is the first facility that it will
develop on former airport land. The ample space
enables the company to build a facility with enough
space to accommodate a range of customers, from
smaller clients' single cabinets of servers all the
way up to massive configurations that consume
multiple megawatts of electricity. In addition, " being
very close to the airport will make it more efficient
for suppliers to support their clients within our
facilities, " says Jim Zografos, Digital Realty's senior
director for portfolio management.
Buddy Rizer, executive director of economic
development for Loudoun County, Virginia, one of
two counties in which the airport is located, says
the deal provided funding to help the airport reduce
debt and keep airport fees under control. The new
data center also could generate $20 million a year
in tax revenue for Loudoun County, where it will be
built. " Data centers are big buildings, industrial in
scope, so the airport areas make a lot of sense, "
notes Rizer, who says he has been approached by
a major airport in another region that is seeking to
make a similar deal.
" As airports look to monetize excess landholdings,
many are looking to industrial development
projects, " says Brian Carroll, a senior vice president
for JLL in Chicago. " These projects are increasingly
lucrative as that market continues to outperform
other CRE [commercial real estate] sectors. "
Denver International Airport
Stretching across 34,000 acres (14,000 ha), Denver
International Airport has the biggest landholdings of
any airport in the United States. " We have 16,000
54
URBAN LAND
SUMMER 20 21
LAKE NONA

Summer Issue 2021

Table of Contents for the Digital Edition of Summer Issue 2021

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