Microsoft has bought 616 acres of farmland near Woodward, Iowa, for $95.5 million and will develop the site into a data center campus, according to Business Record.
The land sits between Highway 141 and Seminole Avenue in Dallas County. Woodward is about 30 miles northwest of Des Moines.
Same Dirt, New Price Tag: Microsoft bought the land from TC Austin Acquisitions LLC, the acquisition vehicle of Trammell Crow, a CBRE Group subsidiary.
Here’s how the numbers stack up:
TC Austin paid just over $30.7 million for the land
Microsoft paid more than three times that amount
That works out to about $155,000 an acre, compared with just under $50,000 an acre for TC Austin
Before anyone calls it a flip, there’s a big unknown. Business Record notes it isn’t stated whether the $95.5 million covers only the land or also includes development-related services.
Blueprints Not Included: At a community meeting, Microsoft told residents it hasn’t settled on a campus design or how many data center buildings the site will hold.
The company’s own estimate:
Two to three years of design work
Another two years to construct the first building
Iowa’s Server Belt: Woodward isn’t Microsoft’s first move in the Des Moines area. In 2024, the company bought 111 acres for Project Ruthenium.
Its other area sites, in various stages of development and operation, include Projects Ginger West, Ginger East, Mountain and Alluvion.
The land is bought, but nobody should expect a concrete pour soon. By Microsoft’s own estimate, the first building is at least four years away.
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