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North America Data Center Trends H2 2024

February 26, 2025 4 Minute Read

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Colocation Insights

  • The overall vacancy rate fell to 14.8% in H2 2024 from 19.7% in H2 2023.
  • A major operator plans to deliver 9 MW of additional capacity over the next 15 months.

Market Trends

  • There is continued occupier demand from the oil & gas industry.

Notable Activity

  • Second-generation and legacy space is returning to the market.
  • Two enterprise data centers were acquired for large-scale colocation development.

Figure 1: Historical Market Information

Source: CBRE Research, CBRE Data Center Solutions, H2 2024.

Figure 2: Historical Supply and Demand

Source: CBRE Research, CBRE Data Center Solutions, H2 2024.

Figure 3: % of Total Secondary Market Inventory

Source: CBRE Research, CBRE Data Center Solutions, H2 2024.

Figure 4: Market Fuel Mix

Source: U.S. EIA.

Figure 5: Average Asking Rates

Source: CBRE Research, CBRE Data Center Solutions, H2 2024.

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