Crow Holdings Ramps Up ‘Anti-E-Commerce’ Retail Strategy With $2.6B Joint Venture

May 23, 2023 / no comments

Crow Holdings is doubling down on its commitment to retail with the creation of a $2.6B joint venture and investment platform aimed at acquiring shopping centers.
The investment vehicle was formed through the recapitalization of a $1.8B, 173-property portfolio owned by two real estate funds managed by Crow Holdings Capital, according to a news release. The partnership with an undisclosed global institutional investor will allow Crow to pick up small-format centers in more than 50 primary and secondary markets across 30 states.

Amazon Razing 11 Northern Virginia Offices For New Data Centers

May 23, 2023 / no comments

Amazon plans to demolish at least 11 office buildings in Northern Virginia and replace them with data centers as part of its $35B expansion in the area.
The tech and cloud computing giant has filed plans with Loudoun County officials to raze nine office buildings on three different properties in Sterling, replacing them with four data centers totaling more than 900K SF, the Washington Business Journal reports.
Amazon is already in the process of redeveloping a two-building office property in neighboring Fairfax County into a data center. The projects come as the company increasingly turns to brownfield developments amid power and land constraints in the world’s largest data center…