Market Profiles

Over 1,000 acres have been acquired for future wholesale and hyperscale data center development.

Hyperscale demand remains strong. Oracle, Facebook and Microsoft all have a large presence in the area, with AWS looking to grow their presence.

Emerging hyperscale activity in Dallas drove unprecedented leasing activity in 2022.

105.4 MW are under construction. Construction activity of this volume is unprecedented.

Strong demand and immediate online supply constraints enabled Northern Virginia to set a new record low 0.98% vacancy rate.

Rental rates increased up to 20% over the trailing 12 months.

Cloud service providers continue to dominate, although the area has seen a resurgence of enterprise demand.

Vacancy remains at an all-time low.

Renewable green hydropower is an important draw for data center operators.

Sites suitable for data centers in Charlotte and Raleigh proper are very difficult to procure.

Hyperscale edge deployments constituted most absorption in 2022.

At 64.4 MW of absorption in 2022, Hillsboro saw the most demand of any secondary market.

This market is less active than in prior years, as O&G companies still recover from the pandemic.

Wholesale and retail activity slowed in H2.

Sabey absorbed I-Nap’s 3 MWs at their SDC Seattle Building 5 facility, adding it to their wholesale offering.

The future development pipeline grew, as data center expansion plans are being finalized to provide multi-MW opportunities to support hyperscale demand.

There is continued demand for VFX and Gaming services on the rendering side.

Market demand for wholesale colocation produced 81 MW of pre-leasing in 2022.