American Real Estate Partners and Harrison Street JV Commits $1 Billion for Data Center Developments in VA
Posted on 01/13/2022
A joint venture between American Real Estate Partners (AREP), and Harrison Street Real Estate Capital, LLC, announced a US$ 1 billion commitment to 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.
The data center campuses can accommodate six buildings that will range from 265,000 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. The JV has already broken ground on its first development, ABX-1 at Beaumeade, a 265,000 square foot two-story powered shell located directly on Loudoun County Parkway, directly on top of the Ashburn Fiber Ring. AREP and Harrison Street acquired the site in January 2021.
Since 2018, Harrison Street has invested approximately $2.4 billion in digital assets including powered shells, carrier hotels, strategic colocations and dark fiber, and has built a dedicated team committed to investing across verticals that are key parts of the digital ecosystem. In July 2021, Harrison Street acquired a significant minority interest in Summit Infrastructure Group, a dark fiber network solutions and bandwidth infrastructure provider for carriers, content providers, data center operators, large enterprises and government agencies, with more than 600 miles of 100% underground, newly constructed metro and regional dark fiber infrastructure in Northern Virginia.
