AREP’s & Harrison Street Commit $1B To Data Center Development In NoVA – Commercial Observer

A three way partnership between American Real Estate Partners and Harrison Street have dedicated $1 billion to develop 2.1 million sq. ft of information facilities in Northern Virginia. 

The companions plan to develop six information facilities throughout two campuses in what’s referred to as Data Center Alley, the world’s largest and most linked information heart submarket, positioned in Ashburn and Arcola, Va. The deliberate facilities might be delivered as powered shell buildings — with the outside full — rnaging from 265,000 to 440,000 sq. ft.

“For customers, with the ability to cluster their services is essential to their very own connectivity and digital wants,” Michael Hochanadel, managing director and head of digital actual property at Harrison Road, informed Industrial Observer. “Northern Virginia is bigger when it comes to each stock and absorption than the following 5 markets mixed. Its development has led to a constructive suggestions loop amplifying the significance for finish customers to find there as a result of community results and the diploma to which underlying purposes work together with one another.”

The agency has acquired three websites the place it plans to construct the info facilities, one in Arcola and two in Ashburn. The first site acquisition between the three way partnership was made in January 2021 with the second following in October and the third, the previous AOL campus in Ashburn, in December 2021.  

“These three websites are among the many best possible available in the market and must be terribly fascinating for the hyperscalers,” Doug Fleit,

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