Key Insights
In 2024, the North American data center sector doubled the amount of supply under construction to a record 6,350.1 megawatts (MW), a 12-fold increase from 2020. (cbre.com)
The vacancy rate in primary data center markets fell to a record low of 1.9% by year-end 2024, indicating robust demand and limited available space. (datacenterdynamics.com)
Silicon Valley's data center leasing nearly doubled in 2024, driven by the growth in AI and tech companies' desire to co-locate in the San Francisco Bay Area. (cbre.com)
AI Analysis
The demand for data centers is expected to continue driving growth in the commercial real estate sector, particularly in regions with favorable condit...
Market Outlook
Short-Term
In the short term, the surge in data center construction is expected to drive demand for commercial real estate, particularly in regions with favorable conditions for data center development. However, challenges such as power constraints and labor shortages may slow the pace of new developments.
Long-Term
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