JLL
Investor demand has soared.
Land values have doubled.
Leading the Way
Those absorption levels could be just the beginning of a longer-term trend. Migration to the cloud across both the public and private sectors is the main growth driver, but we are still in the early stages of that migration. The global market revenue for cloud computing is predicted to increase to $390 billion in 2020, equating to 17% annualized growth over the next few years, which will continue to position the Northern Virginia data center market as a significant growth engine over both the short and long term.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
