Tag Archives: Brent Tiano

Facebook to build $1 billion data center in eastern Henrico County

Facebook to build $1 billion data center in eastern Henrico County

Facebook Inc., the California-based social media and networking giant, will build a $1 billion data center in eastern Henrico County, according to multiple sources familiar with the project.

More details on Facebook’s $1 billion data center in Henrico County

The project would create thousands of jobs during construction and more than 100 full-time jobs in a data center of more than 970,000 square feet that represents the first phase of the company’s plans for property in White Oak Technology Park, the sources said.

Gov. Terry McAuliffe will make the announcement on Thursday at the state Capitol with state and local lawmakers.

The technology park, about 4 miles from Richmond International Airport, is home to a 1.3 million-square-foot data center operated by QTS, which acquired the former Qimonda computer chip plant in 2010.

The park, now owned by the Henrico Economic Development Authority, was created in 1996 for a $1.5 billion joint venture by Motorola Inc. and Siemens AG to build a plant to manufacture memory chips for semiconductors.

The plant became part of Infineon Technologies and then Qimonda, but closed in early 2009, laying off thousands of workers.

The Henrico Planning Commission voted last month to approve a development plan for a data center at White Oak of up to 2.5 million square feet, but the details were shrouded under the code name Project Echo.

It would be built in phases, with the first being a 1 million-square-foot data center on a 328-acre site on the northeastern and northwestern corners of the intersection of Technology Boulevard and Portugee Road, the Richmond Times-Dispatch reported in mid-September.

Future phases would include three buildings totaling 1.5 million square feet.

The planning documents do not indicate who the user of the facility would be for Project Echo. The developer is listed as Scout Development LLC and the project engineer is Northern Virginia-based Christopher Consultants.

The occupant would have 100 employees and contractors in the first phase and about 240 at full build-out, according to Henrico planners.

The county has taken steps this year to attract other data centers by dramatically reducing its tax rate on computers and equipment related to data centers, which store and process vast amounts of digital information.

In April, the Board of Supervisors cut the tax rate by nearly 90 percent — from $3.50 per $100 of assessed value to just 40 cents per $100. The new rate went into effect July 1


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Staff writer John Reid Blackwell contributed to this report.

Office Lease Square Footage Calculations

Don Catalano provides a solid explanation of Usable Square Footage and Rentable Square Footage.

When you’re comparing office spaces in search of the ideal place to lease, you want to make sure that you have a clear picture of exactly what you’re getting for the monthly cost of rent. Unfortunately, the terms used to describe square footage can make it hard to do so. Many prospective tenants find it difficult to discern usable square footage from rentable square footage and end up confused about just what they’re getting. But not to worry, we’re about to break down what each term means, so you’ll be ready to start your search.

What Is Usable Square Footage?

Usable square footage tells you just how much wall-to-wall space you’re entitled to occupy under the terms of your lease. It includes only the square footage in your actual office space–the part of the building that is uniquely yours and reserved for your business. This is the square footage that will tell you whether or not you have enough room for all of your employees, and it will tell you just how large your office will be in a particular building.

What Is Rentable Square Footage? 

Rentable square footage includes usable square footage or the size of your actual office space plus a percentage of all of the shared space in the building. It includes things like shared restrooms, lobbies, cafeterias, hallways and stairwells that your employees have access to. In addition, this figure also includes a portion of areas you do not have access to like janitorial closets and maintenance areas. Your rent will be calculated based on the rentable square footage, as you are expected to help cover the cost of maintaining the entire building.

How Is Rentable Square Footage Calculated? 

Landlords are free to set up their own method for calculating rentable square footage. They do so by establishing a load factor or common area factor that they use as a basis of calculating total rent due. Most landlords use common area factors of roughly 10 to 25 percent. Once they have established the common area factor, they calculate the rentable square footage by adding 1 to the common area factor and then multiplying that by the usable square footage.

For example, to calculate rentable square footage for a space in a building with 10,000 square feet of usable square footage and a common area factor of 20 percent you would use the following equation:

10,000 x (1 + .20)

This would give you a rentable square footage rate of 12,000 square feet. Calculations may be more complex in some cases, but this gives you a general idea of how landlords arrive at the figure. A landlord should be able and willing to tell you precisely how they calculate rentable square footage.

Comparing Office Spaces

When you are comparing spaces between buildings, it’s important that you look at the usable square footage rather than the rentable square footage, so that you know how much space you will actually have available. Two buildings with equal rental square footages may have very different usable square footage rates. In these cases, the ones with the lower common area factors will give you more usable office space for your money.


NAI Eagle is now NAI Dominion

We are very excited to announce that now NAI Eagle and NAI Eagle-Hampton Roads is now NAI Dominion.  This change is far more than a name rebranding it is a fundamental advancement in providing commercial real estate services to the existing clients, customers, tenants, landlords, and investors as well as expanding services in the Richmond and Hampton Roads markets.

NAI Dominion is a privately-held commercial real estate firm headquartered in Hampton Roads and Richmond, Virginia, with a global network of more than 7,000 professionals across 55 countries. Our firm serves tenants, landlords and investors in virtually every industry; and our brokers are top producers with the metro Hampton Roads and Richmond area. We are committed to being a leading provider of commercial real estate services in Central and Southeast Virginia and beyond. Our partnership with NAI Global, the largest network of independent commercial real estate firms worldwide, allows us to serve your needs across the globe. Working cooperatively, NAI offices complete over $20 billion in combined transactions annually and manage 425 million square feet of commercial space. Our clients range from Fortune 500 companies, banks and investors to private institutions and small businesses.