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Real estate firm Penzance has secured Amazon as the tenant for an in-development data center in Fairfax County, Virginia.

The company this week announced that Amazon will lease the 45MW, 240,000 sq ft (22,296 sqm) facility, located at 4151 Autopark Circle in Chantilly.

Construction work has started and is expected to be completed in the first half of 2027. The facility will utilize air-cooled systems and rooftop HVAC units.

Penzance has executed a lease with Amazon Web Services (AWS), which will operate and staff the data center.

“This is a high-impact, future-ready facility - and it’s built for what comes next in AI, cloud, and Edge computing,” said John Kusturiss, partner at Penzance. “Chantilly offers unmatched connectivity, and this site is designed to deliver for today’s infrastructure needs while anticipating tomorrow’s technologies.”

Founded in 1996, Penzance is focused on residential, industrial, office, and data center developments. It owns a number of office, industrial, and flex sites in the wider DC area.

A Penzance affiliate acquired the vacant Chantilly parcel in August 2022, with the site previously zoned for a car sales site. News that Penzance was looking to develop in Chantilly first arose in October 2022. The company secured approval from the county board in January 2024 and announced work had started in October of this year.

Josh Weissman, AWS director of data center delivery, said: “We’re continually innovating to ensure our data centers fit responsibly into the communities we call home. As part of this project, we’re proud to partner with Penzance and Fairfax County to preserve and enhance 67 acres of open green space, create public walking trails, and design a campus that operates quietly, efficiently, and with low environmental impact.”

He continued: “This site, like our other facilities, will use minimal water and rely only on outside air for cooling 95 percent of the year. Our backup generators ensure continuity for the hospitals, first responders, schools, and other essential services that rely on AWS to stay online while meeting strict requirements for their use during the rare times the grid is interrupted. We’ll keep raising the bar on sustainability, safety, and community partnership so these investments in US innovation also strengthen the local economy and the quality of life our neighbors expect.”

Amazon has a major and growing presence across Virginia. Loudoun County hosted Amazon Web Services’ (AWS) first data centers when the book company launched its first cloud facilities in 2006.

Today, the company is known to own or lease data centers around Haymarket, Manassas, Ashburn, Sterling, Chantilly, Warrenton, and McNair, to name a few, spanning across Loudoun, Fairfax, Prince William, and Fauquier Counties.

The company’s exact footprint isn’t known, but it totals more than 50 data centers across the region, with dozens more in development. Greenpeace estimated the company had 1.7GW of capacity back in 2019, having more than doubled that figure since 2015. Amazon's US-East Northern Virginia cloud region has been described as the largest single concentration of corporate data centers in the world.

As well as growing its existing footprint in Loudoun, Fairfax, and Prince William with new facilities, DCD has seen AWS active with plans for new projects in Fauquier, Culpeper, King George, Spotsylvania, Stafford, Louisa, Orange, and Caroline Counties.

“This project represents the kind of future-forward infrastructure investment that keeps Fairfax County at the forefront of a rapidly changing global economy. We are proud to lead the future of digital infrastructure innovation, and even prouder to do it in partnership with local developers like Penzance,” said Jeffrey C. McKay, chairman of the Fairfax County board of supervisors. “As AI, quantum, and advanced computing accelerate, the regions that modernize their digital backbone will shape the future. Northern Virginia helped build the digital infrastructure that powered the internet and cloud revolutions, and today, we are laying the foundation for the next era of innovation.”

COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) announced the acquisition of Stonegate I, a 142,000 square foot Class A office building at 15050 Conference Center Drive in Chantilly, VA for a gross purchase price of $40.2 million. The Class A office building is fully occupied by a top 20 U.S. Defense Contractor with 10 years of lease term remaining, making this their ninth location in the Company’s portfolio. Stonegate I was constructed in 2000 and is within a 1-mile radius of the Company’s 1.5 million square foot Westfields office portfolio, which is 94% leased.

Stephen E. Budorick, COPT Defense’s President & Chief Executive Officer, commented, “This acquisition exceeds our development yield threshold, is accretive to FFO per share, and enhances our relationship with a top 20 U.S. defense contractor. It also reinforces our position as the dominant owner in the highly-leased and supply-constrained Westfields submarket, as we now own roughly one-third of the 4 million square feet of office inventory. Cushman and Wakefield identifies Westfields as the tightest submarket in Northern Virginia at 94% leased.”

Please see pages 13-17 of the Company’s 3Q25 Results Presentation for further details.

About COPT Defense

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (“USG”) defense installations and missions (referred to as its Defense/IT Portfolio). The Company’s tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. As of June 30, 2025, the Company’s Defense/IT Portfolio of 198 properties, including 24 owned through unconsolidated joint ventures, encompassed 22.6 million square feet and was 96.8% leased.

Forward-Looking Information

This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.

The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.

Source: COPT Defense Properties

After months of speculation, IKEA has officially confirmed that it’s coming to Chantilly, taking over a building currently occupied by the Dulles Expo Center.

The Swedish furniture chain announced today (Thursday) that it will open a store — its third in Virginia — at 4320 Chantilly Shopping Center Drive in the Chantilly Shopping Center sometime in spring 2026.

“We are thrilled to continue our expansion across the DMV to bring the dream of a better home within reach for more people across the country,” Ikea U.S. CEO and Chief Sustainability Officer Javier Quiñones said in a press release. “The opening of IKEA Chantilly highlights our commitment to bring IKEA closer to the many people and make it easier and more affordable to access our home furnishing products and solutions.”

This will be Ikea’s first full-sized store in Fairfax County, though the company opened a smaller “plan-and-order” point where customers can design products and arrange for their delivery at Fairfax Corner in December 2023.

Ikea also has a full store in Woodbridge and a small-format location in Arlington, though the latter is scheduled to close at the end of November after roughly two years in business.

The Washington Business Journal first reported Ikea’s plans for a Chantilly location in July. The company had submitted an application to Fairfax County for a 142-seat restaurant that was later withdrawn.

However, the WBJ then reported last month that official Ikea documents had emerged indicating that it was planning a full store, rather than just a restaurant.

Event promoters were informed by Dulles Expo Center’s management yesterday (Wednesday) that the venue will close in December ahead of its conversion into Ikea, the WBJ said, noting that organizers are struggling to identify alternative venues in the area for future events.

Dulles Expo Center didn’t respond to a request for comment from FFXnow by press time.

More on what to expect from at Ikea’s Chantilly store from the company’s press release:

At IKEA Chantilly, customers will be able to explore a nearly 110,000 square-foot space designed to inspire and provide solutions for a better life at home. The store will showcase a variety of fully furnished room settings, each offering “local living” solutions thoughtfully tailored to reflect the unique everyday needs of the Chantilly community. Customers will find over 7,700 products on display with a curated selection of more than 4,400 products available for immediate takeaway, including home furnishing accessories and approximately 500 smaller furniture items. Larger pieces, such as sofas and beds, along with the entire IKEA range, can be conveniently ordered online with options for free in-store pickup or low-cost home delivery. Online shoppers can choose IKEA Chantilly as their preferred pickup location at checkout to pick up qualifying IKEA.us order in-store for free.

IKEA Chantilly will feature a central planning area where customers can meet one-on-one with expert IKEA planners for personalized design consultations for kitchens, bedrooms, bathrooms, small space living, and more. IKEA Chantilly will also feature the Swedish food experience, offering a variety of hot and cold IKEA favorites like meatballs, plant balls, hot dogs, veggie dogs, plant dogs, cinnamon buns, and more—available to enjoy in-store or take home for later.

As part of IKEA’s commitment to sustainability, the store also includes an As-is Department, offering gently used products, discontinued items, and even more affordable furnishings—giving products a second life and helping customers furnish their homes more sustainably.

“I’m excited to bring the IKEA experience and stylish, functional, and affordable home furnishings to more customers in the DMV!” said Scott Reid, market manager, IKEA Woodbridge. “We are meeting the many people where they are, and I’m thrilled that we are continuing to grow our presence across the DMV.”

IKEA is dedicated to elevating the customer experience with a variety of customer meeting points and locations that complement each other and meet people’s different home furnishing needs. In addition to opening new customer meeting points, IKEA U.S. has made significant investments to enhance its e-commerce experience and service offerings, including new IKEA Family and IKEA for Business benefits, lower-priced shipping, and delivery, Click & Collect and TaskRabbit assembly services.

Real estate firm Penzance has broken ground on a data center in Chantilly, Virginia.

The company announced it has secured construction financing and broken ground on Chantilly Premier, a 100 percent leased powered shell located in Fairfax County, Northern Virginia.

"Penzance is excited to break ground on this project, which will deliver critical digital infrastructure in the world’s largest and most important data center market. We continue to advance our development pipeline and scale our platform in the data center industry, which reflects our commitment to the sector and the strength of this core data center market," said Cristopher White, partner at Penzance.

News that Penzance was looking to develop in Chantilly first arose in October 2022, and in September 2023, the county planners recommended approval for the development. The company secured approval from the county board in January 2024.

Set on some 80 acres of vacant land off Lee Jackson Memorial Highway, the data center will span 402,000 sq ft (37,350 sqm) across three stories. Penzance said it secured a build-to-suit lease with an unnamed hyperscaler in February 2025. The building is reportedly set to be delivered in the first half of 2027.

The $100 million in construction financing was secured from real estate investor QuadReal Property Group, with assistance from Cushman & Wakefield.

“This latest debt financing is in direct alignment with QuadReal’s investment strategy and our conviction in alternatives, including data centers,” said Paul Stern, senior vice president, US debt investments at QuadReal. “We are excited to partner with Penzance as they continue to scale their platform in key markets.”

Founded in 1996, Penzance is focused on residential, industrial, office, and data center developments. It owns a number of office, industrial, and flex sites in the wider DC area.

“We are thrilled to advise Penzance on this pivotal transaction," said Cushman & Wakefield’s Marshall Scallan. “Chantilly Premier stands out as a best-in-class development due to its robust infrastructure, and premier location in Data Center Alley. Securing this financing highlights the strong market appetite for high-quality, preleased assets backed by experienced sponsors.”

A Penzance affiliate acquired the vacant Chantilly parcel in August 2022. The site was previously zoned for a car sales site.

Based in British Columbia, QuadReal Property Group is a global real estate investment, operating, and development company with $89 billion in assets under management. It is wholly owned by British Columbia Investment Management Corporation. QuadReal has previously partnered with T5, including recently for a 5GW data center joint venture.