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Blue Owl Capital And Chirisa Technology Parks Form $4 Billion Joint Venture For AI Development Site In Lancaster

Property Image
SOLD
$4,000,000,000
Joshua King
Douglas (Doug) Harmon
Adam Spies
+ 4

Pennsylvania

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Development Site3,400,000 SF
Sold 08/27/2025
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Property Image
SOLD

Blue Owl Capital And Chirisa Technology Parks Form $4 Billion Joint Venture For AI Development Site In Lancaster

216 Greenfield Road

See Similar Deals
Development Site3,400,000 SF
Sold 08/27/2025
Joshua King
Douglas (Doug) Harmon
Adam Spies
+ 4
the dealplayerscompscontact
Contact now

Summary

PENNSYLVANIA
Asset Type:Development Site
Price Per Square Foot:$1,176
Total Square Footage:3,400,000 SF
Transaction Type:Sale

The property involved in this transaction is a development site located at 216 Greenfield Road, Lancaster, PA. This joint venture transaction is valued at $4,000,000,000 and is part of a partnership that supports over 1GW of new AI infrastructure developments, including the Lancaster CoreWeave campus.

Summary of transaction details:

This joint venture expands Blue Owl’s development relationship with Chirisa Technology Parks to a total of $20,000,000,000. CoreWeave has invested in this site and will lease it as part of its national rollout of AI-ready data centers.

Players

Adam Doneger
Newmark
Adam Doneger
190 deals$50.2B volume(516) 317-7837
BROKER
Adam Spies
Newmark
Adam Spies
263 deals$71.8B volume(212) 841-7500
BROKER
Douglas (Doug) Harmon
Newmark
Douglas Harmon
130 deals$47.6B volume
BROKER
Joshua King
Newmark
Joshua King
115 deals$32.8B volume(212) 850-5427
BROKER
Jordan (Jordy) Roeschlaub
Newmark
Jordan Roeschlaub
324 deals$97.5B volume
BROKER
Brent Mayo
Newmark
Brent Mayo
7 deals$22.6B volume(207) 831-2190
BROKER
Andrew Warin
Newmark
Andrew Warin
5 deals$19.6B volume(703) 232-9311
BROKER
Newmark
Newmark
BROKERAGE
Machine Investment Group
Machine Investment Group
BUYER

Details

SOLD
IMAGE: VENTURE IMAGE: Jordan Roeschlaub, Douglas Harmon, Adam Spies, Joshua King, Adam Doneger, Brent Mayo & Andrew Warin DATE: 8/27/2025 ADDRESS: 216 Greenfield Road MARKET: Lancaster, PA ASSET TYPE: Development Site JV PARTNERS: Blue Owl Capital, Chirisa Technology Parks & Machine Investment Group BROKERS: Adam Doneger (@ADoneger), Jordan Roeschlaub (@JordyRoeschlaub), Joshua King, Andrew Warin, Douglas Harmon, Brent Mayo (@BMayo16) & Adam Spies - Newmark (@Newmark) JV VALUE: $4,000,000,000 NOTE: This transaction is structured as a joint venture, not a traditional sale. The $4B partnership expands Blue Owl’s development relationship with Chirisa Technology Parks to $20B, supporting over 1GW of new AI infrastructure developments, including the Lancaster CoreWeave campus. CoreWeave has invested in and will lease the site as part of its national rollout of AI-ready data centers.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$213,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$14,211,155.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,962,040.70
Annual Debt Service$227,544,488.46