According to CBRE’s “North America Data Center Trends H2 2024" report, the overall vacancy rate in primary markets fell to a record-low 1.9 percent at year-end. Only a handful of facilities with 10 MW or more are slated for delivery in 2025 and are not yet leased, reflecting the scarcity of large-scale available inventory.
Also from the report:
- Atlanta led all primary markets for net absorption in 2024 with 705.8 MW, well above perennial leader Northern Virginia’s 451.7 MW. This was the first time any market surpassed Northern Virginia in annual net absorption.
- The average monthly asking rate for a 250-to-500-kilowatt (kW) requirement across primary markets increased by 12.6 percent year-over-year to $184.06 per kW, reflecting continued demand amid tight supply.
- Markets like Charlotte, Northern Louisiana and Indiana are seeing significant investment due to tax incentives, available land and greater power accessibility. These markets are poised to grow as they attract hyperscale and colocation providers alike.
Related Resources: Local Guidelines for Data Center Development
