For immediate release

PowerHouse Data Centers Closes on Nevada Site for ‘PowerHouse Reno'

Reno site to be the first campus outside of northern Virginia, marking PowerHouse’s national expansion

Reno, Nevada — January 19, 2024 – PowerHouse Data Centers (PowerHouse), a fully owned subsidiary of American Real Estate Partners (AREP), and developer and owner of next-generation data centers, today announced it has closed on the site of “PowerHouse Reno,” a three-building, 900,000 square foot powered shell data center campus being developed in Reno, Nevada. Backed by a joint venture between PowerHouse and Harrison Street, PowerHouse Reno is PowerHouse’s first site outside of northern Virginia and will provide more than 65 MW of bridging power, which is scheduled to be in-place by year-end 2025.

Located in the Tahoe Reno Industrial Center (TRIC), the largest industrial park by landmass in the United States, PowerHouse Reno will serve the increasing data demands of leading hyperscale users in the area. TRIC and Reno have evolved into one of the nation’s fastest growing tech hubs as land and power have become challenging to secure in Northern California. The Reno region’s central location to all key Western markets, access to low cost renewable energy, qualified workforce, competitive tax rates and abatements, and overall business-friendly environment make for an optimal location. With the combined expertise of AREP and the PowerHouse Harrison Street JV, PowerHouse Reno will serve as the leading solution that addresses the needs of this rapidly growing, highly connected data center market.

“As the growth of AI throughout all industries continues to push hyperscale demand roll out, sites like PowerHouse Reno will serve the market with near term power delivery at attractive costs with reliable renewable energy components” stated Doug Fleit, co-founder and CEO of AREP and PowerHouse. “This is another important addition to our portfolio of data centers and we are extremely pleased to be continuing our relationship with Harrison Street as our partner in this venture.”

“The expansion of the PowerHouse platform into the highly connected and desirable Reno market is an important step in addressing the challenges facing leading technology firms,” said Michael Hochanadel, Managing Director and Head of Digital for Harrison Street. "PowerHouse is well positioned to capitalize on evolving customer requirements, and our Reno location aligns with the needs of the market. We look forward to further expansion across the U.S. in the future.”

The close marks PowerHouse Data Center’s second transaction in the last two months and it’s strategic national expansion. PowerHouse currently has four developments underway in northern Virginia totaling over 700 MW.

For more information about PowerHouse’s current projects, including Reno, please visit www.powerhousedata.com.

About PowerHouse

PowerHouse Data Centers (PowerHouse), a division of American Real Estate Partners (AREP), offers technical real estate solutions and next-generation data center powered shells for the hyperscale market. Driven by the core philosophy that strong data center projects begin with a strong real estate partner, PowerHouse provides best-in-class investment knowledge, development and site selection expertise, and technical operations. Visit www.powerhousedata.com for more about how PowerHouse delivers best-in-class build-to-suit, powered shell, and full turnkey deployments at scale.

Media Contact
Jaymie Scotto & Associates (JSA)
+1 866.695.3629 ext. 11
jsa_arep@jsa.net

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