Strong demand that is exceeding supply increases has pushed rates in North American data center markets to close to their peak highs of the 2010-2011 period, according to a new report from CBRE.
Occupiers now typically pre-lease space 18 to 36 months in advance, markedly earlier than the six-to-12 months that was previously the norm.
In markets such as Silicon Valley (up 54%), Northern Virginia (47.5%), Chicago (47%), Dallas-Fort Worth (29%), and Phoenix (20%), average asking rental rates increased by 20% to 54% over the past eight months.
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