Record demand for data centers powering surge in development

The North American data center sector is booming as hyperscalers and large companies sign increasingly larger leases to accommodate future growth, and development activity increases to meet surging demand, according to CBRE.

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

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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