Atlas Development is developing “Project Springbank,” a $4.5 billion data center. The proposed facility will be located southeast of Adairsville, near Perkins Mountain Road, approximately an hour northwest of Atlanta.

The Atlanta Business Chronicle reports It’s the same developer that recently filed plans to build a $17 billion data center, “Project Sail,” in Coweta County.

For the Bartow project, the company plans to construct six buildings, each about 379,000 square feet and using about 72 megawatts of power. Data centers have massive power requirements. Through 2037, data centers will account for almost 83% of Georgia Power’s electricity demand from large potential new customers.

In addition, water use is a big issue as well. The Bartow County project is expected to use about 15,000 gallons of water per day, and it would use closed-loop water technology to reduce water and sewer demand.

The project is expected to be completed by the end of 2031.

Adelaide Polsinelli, vice chairman, and Trystan Polsinelli, senior executive director of Compass Commercial, finalized the sale of a 16,000-square-foot retail condo with 160 feet of wraparound frontage located at 350 6th Ave., also known as 88 Washington Pl., on the northeast corner of Sixth Avenue in Greenwich Village.

The property was sold for $16.5 million to an NYU-affiliated community center and preschool operator. The sale included two separate condo units spanning the ground floor and second floor of the property.

The sale not only activated a prime thoroughfare that had remained vacant since the pandemic but also provided the purchaser with a premier location for educational use, according to Adelaide Polsinelli.

“This high-profile property’s location and features made it one of the most sought-after assets in the area,” said Adelaide Polsinelli. “Its versatility, paired with proximity to transportation and historic landmarks, offered an unparalleled opportunity for the buyer to expand their community presence.”

Newmark Group has arranged a $400 million credit facility for PORT 32 Marinas to refinance its existing portfolio of coastal marinas, and to fund the future acquisition of marinas. Newmark’s Jordan Roeschlaub, Chris Kramer and Jonathan Firestone arranged the financing, which was provided by the Austria-based bank, BAWAG Group.

Based in Charleston, South Carolina, PORT 32 is a leading owner, operator and developer of dry and wet slip coastal marina properties. PORT 32 provides expertise in the development and management of marina assets to bring customers an unparalleled level of service within the industry. PORT 32 owns and operates a growing collection of Class A marina assets in premier markets.  Besides Charleston, the company runs one marina in North Carolina, and nine in Florida, including Jacksonville, Marco Island, Cape Coral, Naples, Tampa, Fort Lauderdale, Tierra Verde, Palm Beach Gardens and Lighthouse Point.

Netrality Data Centers, a privately held owner and operator of core interconnection facilities, recently opened its latest data center facility, KC2-7801 Nieman, in Shawnee, Kansas. The 172,000-square-foot state-of-the-art facility located at 7801 Nieman Road is designed to serve as a hub by providing the critical digital infrastructure needed to drive digital transformation and business growth throughout the Midwest.

“The presence of a cutting-edge facility like KC2-7801 Nieman makes the Kansas City Metro region more attractive to tech giants, startups, and everything in between, promising a vibrant future for the local economy,” said Gerald M. Marshall, President and Chief Executive Officer at Netrality.

The new data center is directly linked via dark fiber to Netrality’s core interconnection facility, 1102 Grand in Kansas City. In 2023, the U.S. Department of Commerce recognized the Kansas-Missouri region as one of 31 inaugural Tech Hubs. Kansas City is one of six U.S. markets where Netrality owns and operates core interconnected data centers. 

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!