Intelligent Investment

Minneapolis

North America Data Center Trends H2 2023

March 6, 2024 4 Minute Read

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Colocation Insights

  • Minneapolis is increasingly considered an alternative to Chicago.
  • Operators’ pricing power remains stable but behind other U.S. markets.

Market Trends

  • Competing Wisconsin markets recently passed data center tax exemption legislation.

Notable Activity

  • DataBank is expanding its MSP3 Brooklyn Park Campus.
  • Rosemount City Council approved a major hyperscaler’s 750,000-sq. ft. data center project.

Figure 1: Historical Market Information

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 2: Historical Supply and Demand

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 3: % of Total Secondary Market Inventory

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 4: Market Fuel Mix

Source: Xcel Energy.

Figure 5: Average Asking Rates

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

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    March 6, 2024

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    Databank brought 2 MW online at its new facility in Centennial.

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    March 6, 2024

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    Centeris Data Centers leased 10.5 MW to a retail provider.

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