Intelligent Investment
Hillsboro
North America Data Center Trends H1 2024
August 19, 2024 4 Minute Read
Colocation Insights
- Demand remained robust, with a shortage of large available space blocks.
- The overall vacancy rate fell to a record-low 0.07% in H1 2024 from 2.5% in H2 2023.
Market Trends
- Data center operators and developers competed with semiconductor chip manufacturers for access to power.
- Umatilla and other neighboring cities continued to attract interest for data center development due to a shortage of available land and power in Hillsboro.
- Timelines for delivery of additional power capacity extended into the 2030s.
Notable Activity
- Digital Realty switched from regular to synthetic diesel fuel to power its PDX12 facility in Hillsboro.
- Intel announced plans for $36 billion of additional development at its local campus.
- Power constraints will delay future data center development in Hillsboro.
Figure 1: New Market Development Information
Figure 2: New Market Inventory and Vacancy
Figure 3: % of Total Primary Market Inventory
Figure 4: Market Fuel Mix
Figure 5: Average Asking Rates
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