Charlotte-Raleigh

Colocation Insights

• American Tower delivered 1 MW of capacity at a Raleigh cell tower site.
• Developers with existing land positions are working to secure tenants even though power deliveries won’t occur until mid-2027.

Market Trends

• Duke Energy is requiring end users to sign power commitments and increase capital contributions, making it more difficult for developers to conduct business.
• With power generation near Charlotte seemingly at capacity, some developers are delaying new projects or shifting to alternative uses for sites.
• Sites at the perimeter of Duke Energy’s service territory, outside of the clustered area near Charlotte and along I-85, may be some of the last near-term opportunities for development in the Carolinas.

Notable Activity

• Enovum Data Centers acquired a 1 million-sq. ft. building for conversion to a data center in Madison, NC.
• Cielo Infrastructure announced a new 1.6 million-sq.-ft. data center campus in Gaffney, SC.
• AWS announced a $10 billion total buildout investment on 800 acres in Hamlet, NC.

Figure 1: Historical Market Information

Figure 2: Historical Supply and Demand

Figure 3: % of Total Secondary Market Inventory

Figure 4: Market Fuel Mix

Figure 5: Average Asking Rates