In February, Penzance closed an equity recapitalization of 1501 Moran Road through the formation and capitalization of a joint-venture with EdgeCore to co-develop the site as a datacenter. Edgecore, based in Broomfield, Colorado, is an experienced and well-reputed datacenter owner, operator, and developer with projects throughout the United States. 1501 Moran Road is strategically located in Sterling, Virginia near the Loudoun Gateway Metrorail Station, and Dulles International Airport. Penzance purchased the 7.65 acre parcel via two separate transactions between 2021 and 2022. The site has been fully entitled for datacenter use.