Praetorian Fund plans acquisition of 4,000-acre industrial site in Chesapeake, Virginia for potential data center and industrial development

Type: Development · Technology: Data Center · Country: United States · Announced: 2026-08-12

Praetorian Fund agreed to acquire a 4,000-acre industrial site in Chesapeake, Virginia, known as Coastal Virginia Commerce Park, for potential data center and industrial development. The site's existing 2022 development guidelines permit data centers, though Praetorian has not yet identified a specific data center project or customer. The city of Chesapeake has spent years evaluating whether prospective industrial users could obtain necessary electricity and infrastructure, including discussions with Dominion Energy about substation or transmission upgrades. Praetorian Fund, which operates Praetorian Data Solutions focused on hyperscale data campuses, aims to attract new business and economic development to the region. The transaction follows Chesapeake's long-standing efforts to prepare the site for major industrial use, including advanced manufacturing and automotive projects that were previously pursued.

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