Intelligent Investment

Central Washington

North America Data Center Trends H2 2023

March 6, 2024 4 Minute Read

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Colocation Insights

  • Supply constraints continue to impact available colocation lease availability.
  • Most of the market consists of preleased single-tenant facilities. Demand remains strong.

Market Trends

  • Power rates remain near all-time lows and are cheaper than in other U.S. markets, despite a slight increase this year.
  • The region’s green power, the state’s data center tax exemptions and low power costs are driving continued demand.
  • Developers are securing positions in utility company queues for future power delivery to planned projects.
  • Hyperscalers and data center developers are combing the region for suitable sites.

Notable Activity

  • H5 Data Centers completed a 10.5-MW lease at its Quincy facility.
  • Sabey Campus (SDC Columbia Building D) in East Wenatchee is delivering an additional 7.6 MW in Q1 2024.
  • Sabey and Vantage have each acquired additional parcels adjacent to their respective Quincy campuses.
  • CyrusOne’s fast-track Quincy development is due for completion in 2024.

Figure 1: New Market Development Information

 
Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 2: New Market Inventory and Vacancy

 
Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 3: % of Total Secondary Market Inventory

 
Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 4: Market Fuel Mix

 
Source: Washington State Department of Commerce.

Figure 5: Average Asking Rates

 
Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Explore Markets

  • Local Response | Intelligent Investment

    Denver

    March 6, 2024

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    Databank brought 2 MW online at its new facility in Centennial.

  • Local Response | Intelligent Investment

    Hillsboro

    March 6, 2024

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    CoreWeave leased space at Flexential’s campus.

  • Local Response | Intelligent Investment

    Seattle

    March 6, 2024

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    Centeris Data Centers leased 10.5 MW to a retail provider.

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