The global data center market is experiencing a surge in demand due to the growth of streaming, gaming, self-driving cars and artificial intelligence. Unfortunately, this increase in demand has been met with a shortage of available power and space worldwide. CBRE’s Global Data Center Trends 2023 report revealed that sourcing enough power is a top priority for operators across North America, Europe, Latin America and Asia-Pacific. As such vacancies are near record lows while positive absorption rates have increased rental prices across all four regions mentioned in the report.
Northern Virginia reported 355.6 MW of positive absorption from Q1 2022 to Q1 2023 while Dallas-Fort Worth (62.8 MW), Chicago (62.5 MW) and Silicon Valley (45
