Large Platform Events | Issue 23.36

Summary of Transaction Headlines

IREI | “Amazon Web Services to Invest $11 Billion in Louisa County, VA”

Amazon Web Services (AWS) has plans to invest $11 Billion in Louisa County, VA by 2040 to establish two data center campuses in Louisa’s Technology Overlay District (TOD). The campuses will position AWS as one of the largest private-sector employers in Louisa and will create hundreds of new jobs. These data centers will support computer servers, networking equipment and the AWS technology that helps people connect to friends and family, work remotely, shop online, and stream movies, TV shows, music, and video games. The increased tax base from this planned investment is expected to support county schools, essential services such as first responders, and infrastructure investments such as parks and roads.

GlobeSt. | “JCPenney Investing $1 Billion to Improve Stores”

JCPenney said this week that it plans to spend more than $1 Billion by the end of 2025 to revive the storied but troubled 121-year-old department store chain. This investment is poised to become the next chapter in JCPenney’s proverbial cat with nine lives survival tale, but experts who spoke with GlobeSt.com say that the $1 Billion isn’t enough to make it thrive, and it first must solve its inventory problems. Much maligned for years, the money will be used to remodel its stores, upgrade its online shopping site and app, and make its supply network more efficient so that online orders are delivered more quickly.

MarketScreener | “PGIM Real Estate Appoints New Co-CEOs”

PGIM Real Estate has appointed Cathy Marcus and Raimondo Amabile as Co-Chief Executive Officers, effective Oct 1, 2023. Marcus and Amabile will jointly run the business in an expansion of their existing global and regional roles and having worked together for over a decade. Marcus will retain her responsibilities as Global Chief Operating Officer, and Amabile will retain his responsibilities as Global Chief Investment Officer.