More than 1.4 million square feet of inventory has been converted to data centers since 2008 in the region. The pace of conversions has averaged 273,725 square feet since 2015, chipping away at nearly 2% of supply each
In conjunction with the EdR purchase, Blackstone Real Estate Income Trust, Inc. and partner Greystar Real Estate Partners also reported they had closed on the $1.2-billion purchase of EdR's student housing portfolio.
If the STEM high school project at the former IBM Somers property secures all approvals and lease negotiations are finalized, the lease transaction and the subsequent adaptive reuse project would be the largest of their kind in memory in Westchester County.