January 26, 2021Commercial Observer
A joint venture between American Real Estate Partners (AREP) and Chicago investor Harrison Street has acquired a 10.3-acre site at 21445 Beaumeade Circle in Ashburn, Va.’s Data Center Alley for $21.5 million.
The seller was not disclosed, but public records revealed Chirisa Investments had last acquired the property in 2018.
The new owners plan to construct a two-story, 265,000-square-foot powered shell for data center use on the site, with construction expected to start this summer.
“Demand for data centers far outstrips current capacity and recent construction is nearly 100 percent absorbed,” Doug Fleit, AREP’s CEO, said in a statement. “21455 Beaumeade Circle’s main location will enable AREP to meet this critical demand and furthers our investment strategy to develop assets that expand data availability and connectivity.”