DENVER, March 6, 2018 /PRNewswire/ -- Denver-based Northstar Commercial Partners today announced that its firm has been awarded a data center build-to-suit, which will be 100% pre-leased by a high profile Fortune 20 company. The initial development will cost approximately $100 million.
"I'm thrilled to have Northstar involved as a key programmatic developer of data storage facilities," Brian Watson, Northstar's Founder & CEO, said. "This is an exciting and truly transformational project to be involved with on a variety of levels — we're eager to get to work and deliver."
The data center will be comprised of two buildings, roughly 400k SF in Northern VA. This project will create over 300 new construction jobs on site, and the buildings will also house new long term jobs and opportunities for the area. The first building is expected to be completed during 2018.
"The race to be a market leader in artificial intelligence technology and subsequent data is heating up and the demand for new storage facilities is immense," Watson noted.
"As such, it makes a lot of sense strategically to be involved as a commercial real estate company in this space. We are in an exceptional position to help others meet those needs, while continuing to provide additional jobs and empowerment as these new opportunities arise."
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SOURCE Northstar Commercial Partners