AREP and Harrison Street form $1b data center JV

A joint venture between American Real Estate Partners (AREP), an institutional fund manager and operating partner focused on data center, office, and residential/mixed-use development and repositioning throughout the Eastern United States, and Harrison Street, have announced a $1 billion commitment to develop six powered shell data centers representing 2.1 million square feet of data center space in Data Center Alley, the world’s largest and most connected data center submarket, located in Ashburn and Arcola, Va.

The data center campuses can accommodate six buildings that will range from 265,000 square feet to 440,000 square feet in size and includes the site of the former AOL headquarters, currently operated by Yahoo, located on Pacific Boulevard in Ashburn. Once complete, the Ashburn campus will be comprised of four state-of-the-art powered shell data centers developed in a build-to-suit model for hyperscale tenants and deliver 300 MW of electrical power capacity. The Arc