Data centers continue to grow in strength as an asset class, a trajectory widely expected to continue given the introduction of the 5G network this year, autonomous vehicles soon to come and the ongoing, increasing demand from the work-from-home crowd.
American Real Estate Partners (AREP), an institutional fund manager and operating partner focused on data center, office, and residential/mixed-use development, and Harrison Street this week announced a $1 billion joint venture commitment to develop six powered shell data centers.
The properties represent 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.
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