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Technical guideFree to read2025

North America Data Center Trends H2 2024

CBRE · Gordon Dolven, Josh Ruttner et al.

CBRE's 26 February 2025 report summarising the rise in primary-market supply, record capacity under construction and record-low vacancy in North America.

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Overview

This report is CBRE Research's report on the North American data centre market for the second half of 2024, published on 26 February 2025. Its authors are Gordon Dolven, Josh Ruttner, Pat Lynch and CBRE Research. The record rests on the main figures in the report's State of the Market, National Pricing and Data Center Outlook sections.

The findings on the state of the market are these: primary-market supply rose 34% year over year to 6,922.6 MW. A record 6,350 MW was under construction at the end of 2024. Vacancy is at a record low of 1.9%. These three figures show that supply remains constrained against strong demand. That vacancy stays low despite record capacity under construction shows that new supply is being absorbed quickly.

In the national pricing section, the average asking rate for 250-500 kW deals is $184.06/kW/month, up 12.6%. This data can serve as a rent reference in colocation cost comparisons. In the outlook section, large projects are expected to take over three years to build. This price is an average asking rate for a single size range and a single region; actual contract prices may differ.

The report is a single regional market report; the figures belong to North American primary markets and cannot be transferred directly to Turkey or other regions. Its rent and delivery-time benchmarks are dated and may not stay current. Its value for a designer is a realistic schedule assumption when planning delivery times for large campuses, and a basis for rent comparisons.

Key points

  1. Primary-market supply rose 34% year over year to 6,922.6 MW.
  2. A record 6,350 MW was under construction at year-end 2024.
  3. Vacancy is at a record low of 1.9%.
  4. The average asking rate for 250-500 kW is $184.06/kW/month, up 12.6%.
  5. Large projects are expected to take over three years to build.
  6. The report is dated 26 February 2025; authors are Gordon Dolven, Josh Ruttner, Pat Lynch and CBRE Research.
  7. The figures belong to North American primary markets.

Using it in design

  • In schedule defaults, assume more than three years' delivery for large campuses.
  • Use rent benchmarks for colocation cost comparisons.
  • Show the user the region (North America) and year (2024) of the reference values.
  • Add market constraints to site-selection and timing scenarios.

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Who should read it

Decision makers, project managers and site-selection consultants investing in data centres and planning capacity.

Publication details

Authors
Gordon Dolven; Josh Ruttner; Pat Lynch; CBRE Research
Publisher
CBRE
Year
2025
Document language
English
Source type
Expert / community
Access
Free to read
Licence
Copyright retained; citation only — the publisher’s terms apply to the original document
Original licence note

Public CBRE research page; cited only.

Citation

Gordon Dolven; Josh Ruttner; Pat Lynch; CBRE Research (2025). North America Data Center Trends H2 2024. CBRE. https://www.cbre.com/insights/reports/north-america-data-center-trends-h2-2024

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