Tag Archives: NAI Global

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.

Do Designations Matter When Choosing A Commercial Real Estate Broker?

Chad Griffiths, a partner with NAI Commercial Real Estate in Edmonton, Canada, looks at the benefits of obtaining a CCIM or SIOR designation.  Many Agents and Brokers in NAI Dominion and our affiliate firms in NAI Global have one or both designations.  We would highly recommend working towards obtaining the designation right for you as it will only help you and your clients and customers.

“Commercial real estate transactions are some of the most important deals that a person or business can make. Finding the right commercial real estate can make or break a business venture. That is why people want the best professional commercial real estate broker available to guide them through the process.

But how can you separate the best professional real estate brokers from the rest?

Degrees And Designations

Most other important professions have a degree or designation that any practitioner is required to have by law. Lawyers have the J.D., doctors the M.D., engineers the P.Eng and so on. Yet there are no professional designations that are required to practice as a commercial real estate broker.

Fortunately, commercial real estate broker associations have created professional designations that allow you to identify those practitioners who have gone above and beyond to become masters of their craft. While anyone who has met the necessary licensing requirements for their jurisdiction can become a commercial real estate broker, these professional designations help the best stand out from the rest and give you the peace of mind that you have found someone that you can trust to guide you through these important decisions.

What’s In A Degree Anyway?

A degree or professional designation signifies that the holder has the necessary education and experience to safely practice their profession. These designations are designed by professional associations to represent at least a bare minimum of knowledge and experience that every practitioner needs to do their job effectively and to a minimum standard of performance expected by their professional peers. Anyone who meets these standards can be relied upon to make the right decisions when practicing their craft.

Commercial real estate designations signify knowledge in relevant areas of law and finance, as well as the customs and ethics of the commercial real estate industry. These professional designations also signify a commitment to ongoing education and regular participation in the professional community and industry events.”