AI boom drives data center development in unexpected markets
By Ashley Fahey
Tampa Bay Business Journal
Published: Mar 5, 2025

Groups building power-intensive data-center facilities are having to look farther afield for opportunities.

A recent report by Cushman & Wakefield Inc. (NYSE: CWK) found, among 569 data-center facilities in markets across the Americas, the vacancy rate stood at 4.9% at the end of 2024, and 83% of upcoming capacity is already preleased. In the second half of 2024, North American markets reached 20 gigawatts of operational capacity, with 1.5 GWs added in the second half specifically. That brought the total capacity added in 2024 to 3.2 GWs.

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