Minneapolis

Colocation Insights

• The Minneapolis market remains primarily enterprise- and hyperscale-driven, with limited large multitenant colocation facilities; most new capacity comes from build-to-suit or owner-operated projects.
• Large continuous colocation availability remains scarce.

Market Trends

• At least 11 large-scale data centers are proposed for Minnesota.
• Regional power stability and access to renewable energy are attractive for future colocation expansions; however, permitting hurdles and environmental regulations may increase costs or slow timelines.

Notable Activity

• Oppidan broke ground on a 61,000-sq.-ft. 5-MW build-to-suit data center in Eagan, one of the latest wholesale data center buildings in the Minneapolis region.
• Amazon is delaying development of a large data center in the central Minnesota city of Becker.
• Cerebras opened an AI-inference facility in Minneapolis, a self-build project that could result in additional single-tenant AI workloads.

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