Intelligent Investment
Minneapolis
North America Data Center Trends H1 2024
August 19, 2024 4 Minute Read
Colocation Insights
- Data center development is being considered for a 160-acre parcel in Farmington.
Market Trends
- Minnesota state legislators recently proposed an expansion of tax incentives to extend the period from 2042 to 2059.
Notable Activity
- Stream Realty Partners sold a 3.6-MW critical IT workload data center to LightEdge for $31 million.
- Meta plans to open a data center in Rosemount in 2026.
- Microsoft acquired 300 acres in Becker from Xcel Energy for $17.7 million.
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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Demand continued from both third-party colocation operators and major hyperscalers.
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Flexential is building a new data center in Parker, CO.
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Enterprise clients are leading Seattle area demand this year.
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