County looks to market HIT Park
Published 2:20 pm Friday, May 12, 2023
Prince Edward County’s Industrial Development Authority (IDA) wants to market the Heartland Innovative Technology Park (HIT). And they want DEALTEK to help. On Wednesday, May 10, IDA announced they’ve hired DEALTEK, while also officially listing the HIT Park property with Cottonwood Commercial at a selling price of $4.5 million.
“On behalf of the IDA Board of Directors, we are pleased to announce the hiring of
DEALTEK, Ltd. and Rhett Weiss to market the HIT Park property,” stated IDA Board Chairman Brad Watson. “Rhett brings a unique skillset and connections within the data center industry that we feel will help Prince Edward County proactively market this site and maximize its investment and job creation potential.”
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Weiss is the founder, chairman and CEO of DEALTEK, Ltd. He specializes in acquisition, development, expansion, and location strategies for headquarters, data centers, manufacturing plants, distribution centers, and other operating facilities. Weiss has negotiated, advocated, and closed deals for many Global 500, Fortune 500, start-ups, scale-ups, and other companies around the world. He has advised them throughout their decision process in both domestic and cross-border initiatives. Their initial capital investment has totaled over $40 billion, and they have received incentives and other savings worth millions of dollars.
In other engagements, he instead has represented governments and their agencies which are recruiting or retaining economic development projects.
WHAT IS DEALTEK?
DEALTEK provides consulting and software solutions to optimize business creation, location, and operation; implement strategic capital investment projects; and facilitate technology transfer and commercialization. Among other projects, DEALTEK has extensive global experience with siting, acquiring, and developing data centers and other mission critical facilities.
Weiss also has a real estate license and is an agent with Cottonwood Commercial, western Virginia’s largest commercial brokerage with over 25 commercial agents. Cottonwood has been in business for over 50 years and covers every sector of commercial real estate transactions.
“As a former executive at Google and Amazon Web Services, and as a consultant to other tech companies, I have led or otherwise been involved in data center development globally,” Weiss said. “So, I can see that the HIT Park has a rare, versatile, and valuable combination of attributes which industry players often need for large-scale data centers or similar high-tech facilities.
Among others, Weiss said, these attributes include:
1. Two high voltage power lines with substantial available capacity
2. Ample, inexpensive acreage
3. Data center zoning
4. Accessibility yet seclusion for security purposes
5. Fiber with low latency to major markets
6. Low “TCO” including low utility expenses and taxes
7. Supportive local governments, citizens, and educational institutions;
8. Water infrastructure projects already in the works. These attributes matter greatly to attract and scale high tech facilities like data centers. This is particularly so given that Northern Virginia and other data center locations now are facing severe capacity constraints, expensive and limited site choices, and/or citizen opposition.”
A MEANINGFUL INVESTMENT
“The Board of Supervisors and the County Industrial Development Authority (IDA) have made a meaningful investment in the future of Prince Edward County with the purchase and development of the HIT Industrial Park,” Prince Edward County Administrator Doug Stanley said. “The County has been supported by grants from the Tobacco Region Revitalization Commission and the Virginia Economic Development Partnership to move the park from a Tier 3 to a Tier 4 status. Economic development is a critical target in the County’s adopted Strategic Plan and the HIT Park represents a transformational opportunity to create jobs and investment.”
Stanley added that the contract with DEALTEK will enable the IDA and the County to take a more aggressive and proactive approach to the marketing of the site.
I have worked with Rhett prior to coming to Prince Edward, and I appreciate his background and experience in delivering large-scale economic development projects,” Stanley said.
When asked to comment about his selection, Mr. Weiss said that “I’m excited, eager, and honored to help the IDA achieve HIT Park’s economic development potential for Prince Edward County.”
Chelsey White stated that she is looking forward to bringing Weiss on-board to help lead the marketing of the site.
“His knowledge and experience with data center site development has already proven beneficial to the County in the marketing of the site and applications for grants to support the HIT Park development.”
Interested parties can contact Rhett L. Weiss, DEALTEK, Ltd. at email@example.com or at (650)305-1812 or Chelsey White, Executive Director of Economic Development and Tourism.