A joint venture between American Real Estate Partners – an institutional fund manager and an innovative operating partner – focused on data center, office, and residential/mixed-use development and repositioning. Harrison Street, an investment management firm, announced a $1 billion commitment. This will develop six powered shell data centers representing 2.1 million square feet of data center space in Data Center Alley, located in Ashburn and Arcola, Virginia.
300 MW of electrical power capacity
The campuses can accommodate six buildings that will range from 265,000 to 440,000 square feet. When fully built, the Ashburn campus will be comprised of four powered shell data centers developed in a build-to-suit model for hyper-scale tenants and deliver 300 MW of electrical power capacity. The Arcola development will include two modern powered shell build-to-suit data centers with approximately 100-125 MW of capacity.
The joint venture has already started construction on ABX-1 at Beaumeade, a 265,000 square foot two-story powered shell located directly on Loudoun County Parkway. Doug Fleit, Chief Executive Officer of AREP said,
« The demand for more data centers is simply based upon our society’s move to an even more integral life with technology. Every aspect of our lives is changing whether it is more connectivity with 5G and more robust streaming entertainment and communications, the inclusion of new augmented reality applications like Meta, self-driving cars and an endless evolution of new technologies and applications. We are creating not just exponentially more data but new and ever more useful ways to apply that data. All of this speaks to a long term data center trend for markets like Ashburn, Virginia. »