202.5

MWAA to sell Western Lands in Dulles for $236.5M. You’ll totally guess for what use.

Data center developer Digital Realty Trust LP (NYSE: DLR) is in line to buy 424 acres on the west side of the Dulles International Airport footprint from the Metropolitan Washington Airports Authority for $236.5 million.

MWAA’s board of directors is expected to vote on the deal for the so-called Western Lands next week. The agenda, and information about the sale, was posted Friday.

San Francisco-based Digital Realty, which acquired D.C.-based DuPont Fabros in 2017 and already maintains a large and growing data center presence in Loudoun, executed a purchase and sale agreement on July 12 and posted a $5 million deposit.

The price works out to nearly $558,000 per acre.

In a separate agenda item, MWAA staff proposes that the net proceeds — $207 million, after covering the cost of marketing and selling the property and settling the original Western Lands bonds — be placed in an account separate from typical authority revenues. That account will be used solely to reduce costs that…

Read the full story from the Washington Business Journal.



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