Greysteel Arranges $66.36 Million Sale of 71-Acre Data Center Development Site in Culpeper, Virginia

Greysteel, a commercial real estate advisory firm, announced the $66.36 million sale of the 71-acre Culpeper Technology Park, a data center development site located at 15140 Keyser Road in Culpeper, Virginia. Blue Owl Capital, through its portfolio company Stack Infrastructure, acquired the property from seller RACM. This transaction marks Greysteel's seventh deal in the Culpeper area, including representing the seller in the original acquisition of this specific property.

The Culpeper Technology Park site is approved for data center use, offering by-right zoning, direct access to multiple fiber networks, and proximity to significant power capacity. It is situated within the Culpeper Tech Zone (CTZ), a designated data center corridor designed to consolidate development, which also benefits from county-level tax incentives and a local workforce pipeline from Germanna Community College. The article notes that this site's rezoning for data center use was the most recent approved within the CTZ.

Zach Benlemlih, Senior Director at Greysteel, stated that Culpeper has rapidly evolved from a speculative secondary market into an institutional-grade destination. He explained that demand for entitled, power-proximate land in the Mid-Atlantic has intensified as supply tightens in Northern Virginia, approximately 60 miles away. This transaction reflects the broader capital migration towards adjacent markets with comparable connectivity profiles to meet growing hyperscale and AI-driven demand.

Lacey Willard, Executive Vice President at Greysteel, added that the Culpeper Technology Park transaction signifies where institutional capital is moving within the data center sector. As primary markets become too expensive for most buyers, well-positioned secondary sites with pre-approved land, fiber, and power access are commanding significant institutional attention.