White Oak Technology Park II, Henrico County, Virginia

White Oak Technology Park II is located in Henrico County, which is approximately half-way between Data Center Alley in Northern Virginia and the undersea cable landing station located in Virginia Beach, Virginia. The MAREA (Microsoft, Facebook, Telxius), Dunant (Google), and BRUSA (Telxius) undersea cables provide internet connectivity between Virginia Beach, Spain, France, and Brazil.

Members of the Atlantic Crossing team foresaw the growth of Henrico County’s White Technology Park as a preferred location for data centers. With the conviction that White Technology Park would eventually need to expand and with land prices in Henrico County selling for a fraction of land prices in Northern Virginia’s Data Center Alley, the Atlantic Crossing team formed the new affiliated venture Atlantic Crossing LLC and began strategically assembling land parcels adjacent the technology park, ultimately purchasing 224.82 acres of land and established a contractual relationship with another property owner who owned adjacent land.

Atlantic Crossing and the neighboring property owner then set out to rezone the land to allow data center development and route critical infrastructure to the property. Concurrently, Atlantic Crossing approached Dominion Energy (local power utility) and privately negotiated a right-of-way agreement for Dominion Energy to construct a new high-voltage power line and transformer substations on the land controlled by Atlantic Crossing. Next Atlantic Crossing entered into an agreement with local developer Hourigan, which had the construction expertise to develop needed water and sewer infrastructure for the land assembly.

Upon receiving approval for rezoning, the land assemblage was re-branded from Atlantic Crossing to White Oak Technology Park II. The property was sold in December of 2023 and July of 2024 to Blackstone-owned QTS Data Centers for a total of $137 million, with such final sale occurring less than three years after Atlantic Crossing acquired the first parcel. Atlantic Crossing, the neighboring property owner, and Hourigan together earned a combined profit of approximately $105 million on the sale of the assemblage. White Oak Technology Park II will be developed by QTS into more than four million square feet of data centers.