Intelligent Investment
New York Tri-State
North America Data Center Trends H2 2024
February 26, 2025 4 Minute Read
Colocation Insights
- High interest rates have not slowed down leasing activity.
- Pricing is at all-time high for colocation facilities due to little available supply.
- AI-related occupiers are eager to absorb space in 5-to-10-MW increments before 12 months of availability.
Market Trends
- Confirmed power availability is taking precedence over other site-selection criteria.
- Supply chain procurement is leading developers to seek out equipment directly from the manufacturer.
- Demand for legacy space continues to drive record-low vacancy.
Notable Activity
- An AI-related occupier signed a 70-MW powered shell lease at an Onyx facility.
- Databank plans to expand its Orangeburg, NY campus now that the first phase is fully leased.
- CoreSite in Secaucus is close to completion.
- QTS in Hightstown is building out 20 MW for an AI-related occupier.
Figure 1: Historical Market Information
Figure 2: Historical Supply and Demand
Figure 3: % of Total Primary Market Inventory
Figure 4: Market Fuel Mix
Figure 5: Average Asking Rates
Explore More Markets
Atlanta had its highest volume of colocation leasing activity ever in 2024.
Large continuous space for lease is limited to 2 MW at any given facility.
- Local Response | Intelligent Investment
Northern Virginia Data Center Market
February 26, 2025 4 Minute Read
Occupiers are finding it difficult to secure 5 to 10 MW of contiguous space in existing colocation facilities due to strong preleasing.
Data Center Solutions
Report Contacts
William Hassan
Executive Vice President
Jonathan Meisel
Senior Vice President
