Market Profiles

A major hyperscaler is seeking 4,000 MW in the Atlanta market.

Demand continues to grow from financial services companies.

Lack of supply is causing a price increase across all requirements.

CoreWeave leased space at Flexential’s campus.

Publicly traded operators are seeking higher per kW pricing, due to rising capital costs and limited supply.

Public cloud providers and AI companies leased most of this market’s available space.

Rental rates remain firm as space and power supply declines.

There was significant preleasing volume in 2023 for spaces over 1 MW.

Vacancy remains near its all-time low, at 1.8%.

Supply constraints continue to impact available colocation lease availability.

No large blocks of continuous colocation space (2 MW+) are available in the market.

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

Vacancy is down from 24% in H1 2023 to 19.7% in H2 2023.

Minneapolis is increasingly considered an alternative to Chicago.

Centeris Data Centers leased 10.5 MW to a retail provider.

Power rates are trending towards the high end of their $0.13 to $0.16 range.

The average power capacity requirement is increasing because there is less available space that can meet end users’ minimum deployment requirements. Power prices are rising in line with this capacity scarcity.

Leasing was relatively muted in H2 2023.