Report: Data Center Vacancy Rates Drop To All-Time Low
DPIT News, Monday, March 10th, 2025
A report published today by JLL, a provider of commercial real estate and investment management services, reveals that co-location vacancy rates in commercial data centers decreased to a record low of 2.6% in 2024.
At the same time, consumption of that infrastructure increased to 4.4 GW, four times higher than it was in 2020.
Overall, preleasing of data center capacity before it comes online stands at 72%, with rents having on average been raised 11% in 2024.
Data center capacity is only likely to become more constrained in this year and beyond with the rise of artificial intelligence (AI) workloads, says Sean Farney, vice president of data center strategy for JLL. AI workloads only accounted for 15% of the total number of workloads deployed in 2024, but are expected to account for 40% by 2030, according to the report.