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He will fill the newly created role of global head of data centers at the firm. Prologis's push exemplifies the growing interest among investors in data center deals, including players who have not traditionally been involved in the highly specialized industry. Warehouses have squat footprints similar to data centers and are often located in industrial areas that have proximity to the heavy electrical lines and equipment necessary to deliver voluminous power that data centers require. Warehouse growth slows as data centers accelerateDemand for data centers has steadily grown over the past decade, driven by the widespread use of cloud computing and storage across corporate America. Blackstone, for instance, has said it plans to develop as much as $50 billion of data centers in the coming years.
Persons: Chris Curtis, Curtis, Michael Hochanadel, Hochanadel, Harrison, They're, Joseph Ghazal, Ghazal, Hamid Moghadam, JLL, Morgan Stanley, Blackstone, Vince Tibone, Tibone, Prologis's, Ron Kamdem, Moghadam, Carl Beardsley, Beardsley, Chris Crosby, Prince William County, Prologis Organizations: Business, Harrison, Green, Amazon, Google, Microsoft, Brookfield, Blackstone, Compass Locations: San Francisco, Dallas, America, Brookfield, Canadian, Prince William, Virginia
How Many Tribeca Pediatrics Does a City Need?
  + stars: | 2024-02-24 | by ( Steven Kurutz | ) www.nytimes.com   time to read: +1 min
In 1994, Dr. Michel Cohen, a 35-year-old Moroccan-French émigré, opened Tribeca Pediatrics in a storefront on Harrison Street in Manhattan’s TriBeCa neighborhood. Dr. Cohen had tousled brown hair and wore thick-framed eyeglasses and clothes by brands such as Commes des Garcons, Paul Smith and A.P.C. He rode around the neighborhood on a bicycle and made house calls to newborns and their vulnerable parents, as if TriBeCa were a quaint village and he a country doctor. Rather than a sterile medical building, Tribeca Pediatrics’s street-level office was actually the front half of Dr. Cohen’s loft apartment, where he lived with his artist wife, Jeannie Weissglass, and three young daughters, who would run in and out while he saw patients. Cheery and bright, with vintage wallpaper from Secondhand Rose and toys in the waiting area, the practice was “low intervention,” the phrase Dr. Cohen used to describe his approach to medicine.
Persons: Michel Cohen, Cohen, Garcons, Paul Smith, Jeannie Weissglass Organizations: Tribeca Pediatrics, TriBeCa Locations: French, Manhattan’s TriBeCa, Tribeca
Airbnb started out with all mom-and-pop hosts, but now big firms are eyeing it as a money-maker. AdvertisementAdvertisementIt started buying up houses in Florida, and renting them out on Airbnb for hundreds of dollars a night, the Wall Street Journal recently reported . "The majority of Airbnb hosts share only one listing," according to a spokesperson. But the shift in operators from mom-and-pop hosts renting their spare bedrooms to major companies renting hundreds of units out has changed the guest experience, too, according to NerdWallet. AdvertisementAdvertisementShort-term rentals can be a volatile investmentRelying on Airbnb, though, can be risky for both mom-and-pop hosts and big-money investors.
Persons: Airbnb, , Brian Chesky, AirDNA, Skift, Jelke Bosma, Jamie Lane, NerdWallet Organizations: TPG, Service, Wall Street Journal, Saluda, Investment, Davidson, Capital Management, University of Amsterdam Locations: Florida, San Francisco, New York, WEG, Pompano Beach, Fort Lauderdale
The AI boom has triggered a surge in spending on data centers. The AI boom has supercharged a wave of spending on data centers. AdvertisementAdvertisementThe data center boom is set to double or triple the amount of energy consumed by these data centers. A recent Cowen research report estimated that AI data centers could require more than five times the power of traditional facilities. Amazon does not disclose how many data centers it occupies, where they are located, or how much electricity they consume.
Persons: , ChatGPT, it's, Jonathan Gray, Cowen, Marc Ganzi, Shaolei Ren, Tom Keane, Keane, Bernstein, Mark Moerdler, Jahi, Matt McCollister, Pena Popo, Blackstone, Karla Moran, Moran Organizations: Service, McKinsey, Nvidia, UC Riverside, Microsoft, Washington, Getty, Lincoln Property Company, Harrison Street, Google, Meta, Amazon, Blackstone, Income Trust, QTS Realty Trust, Amazon Web Services, AP, Phoenix Locations: America, Rural America, Loudoun Meadows, Aldie , VA, Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Washington, DC, Virginia, New York City, Salt
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMerrill: There's extreme investor interest in need-based assets like real estateChristopher Merrill, CEO of Harrison Street, discusses the best places to invest in the markets.
Persons: Merrill, Christopher Merrill Organizations: Harrison
Data center development is booming and AI is expected to stoke already growing demand. Demand is sapping power grids in major markets and pushing data center development across the US. The project's neighbors include Google, Meta, Microsoft, and Amazon – all of whom have similar plans, or are already underway with major data center projects. The message came after a torrid period of growth by the data center industry in that region. Wes Swenson, Nova's CEO, said the Reno region was becoming increasingly popular for data center development because of its access to power.
Persons: Matt McCollister, Martin Peck, Lincoln Rackhouse, Peck, Blackstone, Jonathan Gray, Drew Angerer, Bard, Gray, Pat Lynch, Robbie Sovie, Sovie, Georgia Power, Skybox, Rob Morris, Morris, George Frey, Novva, Wes Swenson, Nova's, Swenson, CBRE, Lynch Organizations: stoke, Lincoln Property Company, Harrison Street, Google, Meta, Microsoft, Amazon, Lincoln, Carrier, QTS, Dominion Energy, Dominion, Washington DC, APS, QuadReal, Georgia, Reuters, Data Centers, CIM Group Locations: Ohio, New Albany, Columbus, Northern Virginia, Dallas, Phoenix, Silicon Valley, Chicago, Virginia, Loudoun County, Washington, Arizona, Southwest, Lithia Springs , Georgia, Atlanta, Vancouver, Hutto , Texas, Austin, Eagle Mountain , Utah, Reno , Nevada, Storey County, Reno, Silicon, Salt Lake City, West Jordan , Utah, CBRE
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