Intelligent Investment
Seattle
North America Data Center Trends H2 2023
March 6, 2024 4 Minute Read
Colocation Insights
- Centeris Data Centers leased 10.5 MW to a retail provider.
- Operators are seeing increased leasing activity across all sectors.
Market Trends
- Most demand is from AI occupiers and hyperscalers.
- Seattle’s green power is attracting new demand for larger tenant requirements.
- Liquid cooling systems usage is increasing.
Notable Activity
- This year, JUNO Trans-Pacific is building a new subsea cable between Washington, Japan and California. It will have the largest capacity of any subsea cable in the Pacific, with intake at Harbour Pointe, WA.
- A new fiber line is under construction to connect Hillsboro to Digital Realty’s Westin Exchange.
- Washington State approved and expanded its data center sales tax exemption to include qualifying Western Washington markets.
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
Explore Markets
-
Supply constraints continue to impact available colocation lease availability.
-
CoreWeave leased space at Flexential’s campus.
-
There was significant preleasing volume in 2023 for spaces over 1 MW.
Report Contact
Related Service
- Property Type
Data Center Solutions
Optimize your data center real estate with worldwide consulting, advisory and transaction, project management an...