PRP Sells Manassas Data Center Development for $113M

PRP, a real estate investment management company headquartered in Washington, D.C., has sold its Northern Virginia data center property located in Prince William County to Iron Mountain Inc. The total consideration of the transaction was $113.5 million, or $2,837,500 per acre.

The 40-acre site of heavy industrial-zoned land is known as Manassas Point. PRP acquired three separately owned, contiguous properties and conceived and developed plans for a 1.1 million square foot state-of-the-art data center campus.

Manassas Point is located in the industrial heart of Manassas, situated in close proximity to Iron Mountain’s other Data Centers in the County. “We are very excited and proud to have orchestrated this complicated project in a very challenging Data Center environment,” said Steve Muller, Managing Director at PRP.

“Importantly, this is a win/win transaction for everybody and will bring significant economic development to Prince William County while strengthening Iron Mountain’s development pipeline and commitment to the Manassas community.”

Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!