DBT-Data Acquires Criticon’s Virginia Project
February 13th, 2008 By: Rich Miller
DBT-Data LLC has acquired a data center project in Harrisonburg, Va. from Criticon, the initial developer. DBT is a spinoff from DBT Development Group, a Washington-based commercial real estate firm, and has bought out the partners in Criticon I and purchased the 100,000-square-foot building and 13 acres of land.
Criticon launched its redevelopment of the former Tyco Building at 1175 N. Main Street in March 2007, and was touted by Gov. Tim Kaine as a source of high-tech jobs for the region. DBT paid $3.6 million for the building, according to local media.
“We’re much better capitalized than Criticon was,” said Chris Trapp, a principal in DBT-Data, who said the new owners would continue the development plan initiated by Criticon. DBT managing partner David B. Tolson said his firm expects to invest $120 million in the project. DBT expects to complete 10,000 square feet of data center space by July, with a total of 50,000 square foot available in the third quarter of the year. Total Site Solutions will continue as the design/build contractor on the project.
Trapp said the Harrisonburg site is well-positioned to win business for secure hosting and disaster recovery from the federal government. DBT has arranged for up to 40 megawatts of power from the Harrisonburg Electric Commission (HEC) at an attractive price of 3.5 cents per kilowatt hour. HEC is currently building a substation at the property to accommodate that capacity.
DBT has procured six 2.5 megawatt Caterpillar generators, and expects to eventually have 12 generators supporting the site. Trapp said DBT is building the project out in phases, and will complete the first 10,000 square foot pod on spec. He said the company is in talks with potential end users.