Colocation vacancy in North America data centers hit an all-time low, 2.6 percent, with absorption doubling in just two years, according to JLL’s North America Data Center Year-End 2024 Report.
The growing demand for resources is transforming the data center landscape, however, driving expansion into emerging markets and compelling utilities to adapt to the digital economy’s increasing energy needs.
Other key highlights include:
Rents skyrocketing, maintaining an 11 percent compound annual growth rate;
Massive 6 gigawatts of colocation capacity are under construction, 72 percent of which is already snatched up;
Power crisis intensifying with four-year average wait times for grid connections
Emerging hotspots like central Virginia, northwest Indiana and the Interstate-35 Corridor in Texas exploding as developers chase scarce power and land;
Investors flocking to data centers as the sector remains among the mo
