Chicago, IL, April 28, 2026 – Harrison Street Asset Management (“HSAM,” or the “Firm”), a leading alternative global investment management firm with over $108 billion in assets under management through highly differentiated assets across infrastructure, real estate and credit strategies, and fifteenfortyseven Critical Systems Realty (“1547”), a trusted owner, developer, and operator of highly-interconnected, custom-designed data centers in North America, announced the completion of the third phase of a five-year demand-driven buildout at their colocation facility in Orangeburg, New York. The facility is now fully leased and operating at near-full utilization, with additional expansion opportunities currently underway.
The Orangeburg data center is a purpose-built colocation facility located approximately 18 miles north of Manhattan, providing server space to a range of tenants seeking proximity to New York City. When acquired in 2021, the facility supported 3.7 megawatts of critical IT load. In response to strong customer demand, the joint venture has since delivered approximately 14 megawatts of incremental capacity while densifying the existing 232,000 square feet of space. The data center’s growth trajectory continues with an additional 12-megawatt utility feed currently under development. Longer term, the site is pre-approved for an additional 230,000-square-foot building supported by a planned on-site 60-megawatt substation.
The Greater New York data center market is one of the largest in the US. Demand is driven by dense network connectivity, supported by multiple terrestrial fiber routes linking major US markets and subsea cable landings along the coasts of Long Island and New Jersey, enabling direct international connectivity, particularly with Europe.
Orangeburg has become a highly strategic asset in the New York metro market, supporting approximately 18 megawatts of critical IT load and based on recent leasing activity, is now operating at near-full utilization. Demand is driven primarily by financial services firms, including bulge-bracket banks, high-frequency trading platforms, and hedge funds, all of which require ultra-low-latency connectivity to Manhattan.
“The Orangeburg data center exemplifies our approach to digital infrastructure investing, pairing strategic locations with disciplined demand-driven expansion,” said Michael Hochanadel, Head of Digital Assets at Harrison Street Asset Management. “Each phase of development has been supported by demonstrated customer demand. Our partner delivered on schedule and within budget, while continuing to operate a critical data center with no downtime, reinforcing the strength of our collective platform.”
“Orangeburg is a prime example of what can be achieved through disciplined execution and close partnership,” said J. Todd Raymond, Chief Executive Officer and Managing Director of 1547. “From day one, our focus has been on delivering capacity in direct response to customer demand while maintaining the performance and reliability our clients depend on. With strong connectivity into Manhattan and the broader New York metro ecosystem, this facility plays a critical role in supporting some of the most latency-sensitive workloads in the market. We’re proud of the progress we’ve made alongside Harrison Street Asset Management and the continued momentum we’re seeing at this site.”
Since 2018, HSAM’s digital investment platform has committed over $6.5 billion to powered shells, carrier hotels, colocation sites and dark fiber platforms. HSAM’s digital assets portfolio reinforces the firm’s long-term focus on targeting demographic-driven and needs-based assets addressing critical global demand.
About Harrison Street Asset Management
Harrison Street Asset Management is a leading global alternative investment management firm with over $108 billion in assets under management through highly differentiated assets across real estate, infrastructure, and credit strategies. Headquartered in Chicago, Toronto and London with over 600 employees in offices across North America, Europe, Asia and the Middle East, the firm offers innovative solutions across a variety of closed-end, open-end and specialized vehicles on behalf of 1,100+ institutional and over 300+ Registered Investment Advisors.1
About fifteenfortyseven Critical Systems Realty
fifteenfortyseven Critical Systems Realty (“1547”) is a leading developer, operator, and owner of highly-interconnected, custom-designed data centers with over 1.25 million square feet of data center space under management throughout North America. 1547 selects sites, designs facilities, and manages developments to optimize performance for all stakeholders across new and interconnected properties. With interconnection in the company’s DNA, 1547’s connectivity-focused portfolio of data centers includes carrier hotels and core connectivity hubs designed to deliver customized mission-critical solutions from concept to connection. To learn more about 1547 Critical Systems Realty, please visit: https://1547realty.com or follow us on LinkedIn.
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