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10.10.25 - 14:03
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Penzance Secures over $100 Million in Construction Financing from QuadReal and Breaks Ground on a Northern Virginia Data Center (Business Wire)
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CHANTILLY, Va.--(BUSINESS WIRE)--Penzance secured construction financing and broke ground on Chantilly Premier, a 100% leased powered shell located in Northern Virginia. The project benefits from exceptional connectivity to fiber and power infrastructure in the world's largest data center market.
“Penzance is excited to break ground on this project, which will deliver critical digital infrastructure in the world's largest and most important data center market. We continue to advance our development pipeline and scale our platform in the data center industry, which reflects our commitment to the sector and the strength of this core data center market,” Cristopher White, Partner at Penzance, said in a statement.
Cushman & Wakefield served as the exclusive advisor to the borrower in securing the financing from QuadReal Property Group (QuadReal), a global real estate investment, development and operating company. A Cushman & Wakefield Equity, Debt & Structured Finance team of Marshall Scallan, Michael Z...
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07.10.25 - 20:03
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Tariffs Add New Pressure to Commercial Construction Budgets (Business Wire)
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Cushman & Wakefield projects a 9% rise in materials costs and a 4.6% increase in total project costs due to tariffs, with data centers most impactedNEW YORK--(BUSINESS WIRE)--#cre--Shifting U.S. trade policy is creating new challenges for the commercial real estate (CRE) construction sector, according to new research from Cushman & Wakefield (NYSE: CWK). The firm's latest analysis finds that tariffs on imported building materials are expected to increase construction materials costs by an average of 9% in 2025, leading to a 4.6% increase in total project costs in Q4 2025 compared to Q4 2024.
(Figures represent isolated impact of current tariff policy as of September 30 on construction costs. Analysis does not account for other market driven shifts in costs such as labor, materials substitution, supply/demand fundamentals, etc.)
Metals are seeing the steepest cost increases. Steel, aluminum, and copper are subject to tariff rates of up to 50%, with copper-intensive projects like data centers facing the la...
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