Intelligent Investment
Minneapolis
North America Data Center Trends H1 2023
September 6, 2023 4 Minute Read
Colocation Insights
- The region has continued growing, with recent activity from DataBank, Cologix and CloudHQ.
- Operators’ pricing power was limited by oversupply but vacancy has decreased in 2023.
Market Trends
- Hyperscale developer projects remain in planning stages, with unknown delivery timelines.
Notable Activity
- Cologix is building 1.5 MW of new capacity in their downtown data center.
- DataBank is planning to expand their data center to 27 MW of capacity.
- CloudHQ acquired a UnitedHealth data center for $90 million.
Figure 1: Historical Market Information
Source: CBRE Research, CBRE Data Center Solutions, H1 2023.
Figure 2: Historical Supply and Demand
Source: CBRE Research, CBRE Data Center Solutions, H1 2023.
Figure 3: % of Total Secondary Market Inventory
Source: CBRE Research, CBRE Data Center Solutions, H1 2023.
Figure 4: Market Fuel Mix
Source: Xcel Energy.
Figure 5: Average Asking Rates
Source: CBRE Research, CBRE Data Center Solutions, H1 2023.
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