Blue Owl’s Stack Infrastructure Buys Virginia Data Center Site for $66M
That comes out to $935,000 an acre
By Greg Cornfield August 4, 2026 2:25 pm
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Blue Owl Capital is pushing beyond Northern Virginia’s Data Center Alley after acquiring a 71-acre development site in Culpeper, Va., for $66.4 million.
Blue Owl’s data center operator Stack Infrastructure purchased Culpeper Technology Park at 15140 Keyser Road from RACM. The transaction is equal to more than $935,000 per acre. Greysteel arranged the sale for the seller and announced the deal Tuesday.
The property is in the Culpeper Tech Zone, a county-designated data center corridor with significant power infrastructure and electrical capacity. The site has by-right zoning for data center development and access to multiple fiber networks. The zone also offers county tax incentives.
Culpeper is about 60 miles southwest from the center of the world’s largest data center market. The competition for that hub has pushed developers and some of the nation’s biggest investment firms to expand into surrounding Virginia markets, especially as land, power and fiber capacity become more difficult to secure.
“Culpeper has moved from a speculative secondary market to an institutional-grade destination in a short window,” Greysteel Senior Director Zach Benlemlih said in a statement. “The demand for entitled, power-proximate land in the Mid-Atlantic has only intensified as Northern Virginia supply tightens, and this transaction is a direct reflection of that.”
Greysteel has completed seven transactions in Culpeper, including representing the seller when it originally acquired the technology park site, as well as other data center properties and land for industrial uses.
“As primary markets price out all but the most liquid buyers, well-positioned secondary sites with entitled land, fiber and power access are commanding real institutional attention,” Lacey Willard, Greysteel’s executive vice president, said.
Meanwhile, Blue Owl is deploying billions of dollars into digital infrastructure. In June, the company provided $975 million to recapitalize a newly built and fully leased data center in Data Center Alley.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
