News

Record Demand Fuels Surge in North American Data Center Development
• The North American data center sector is booming as hyperscale's and large companies sign increasingly larger leases to accommodate future growth and development activity increases to meet surging demand.

• In U.S. primary markets, total inventory reached 3,711 megawatts (MW), up 20% year-over-year, and more than 1,600 MW is under construction, more than double the amount of a year ago.

• Despite the uptick in construction deliveries, demand is outstripping supply, pushing vacancy in U.S. primary markets down to a record-low 3.8% and fueling H1 net absorption of 453.4 MW, nearly triple H1 2021’s level.

• Rents increased, with the average monthly rate for a 250- to 500-killowatt (kW) requirement in U.S. primary markets up 5.9% year over year.

• Investor appetite for data centers remains high but rising interest rates and inflation during the first half of 2022 led to a period of price discovery.


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