Intelligent Investment
Seattle
North America Data Center Trends H2 2024
February 26, 2025 4 Minute Read
Colocation Insights
- Enterprise clients are driving Seattle colocation demand.
- Pricing continues to rise in tandem with increased leasing activity.
Market Trends
- AI is being offered as a fast, scalable, next-generation cloud service.
- Seattle’s hydropower and tax incentives are attracting new demand.
- Various liquid-cooling systems are being used by certain data center tenants and operators.
Notable Activity
- Sabey is completing a 6-MW expansion of its SDC Building 5, with delivery scheduled for Q1 2026.
- Sabey plans to expand its SDC Building 4 and add a new data center building to its Seattle campus.
- Washington State’s sales and use tax exemption for qualifying data center tenants and operators has greatly increased leasing and sales activity across the Puget Sound region.
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
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