As September drew to a close, NAIOP chapter leaders from the Northeast gathered for a summit to learn about and discuss the policy issues facing commercial real estate in the region. Representatives from Detroit, Greater Philadelphia, New Jersey, Massachusetts, New York City Metro and Pittsburgh met in Philadelphia to hear from five speakers with policy expertise.
“Data centers, for latency reasons, had to be located near certain customers, certain population hubs. So, we saw these markets emerge where there was a lot of data center concentration [such as] Northern Virginia, Dallas, Phoenix,” explained Elissa Wilson during a panel discussion this week at CRE.Converge in Toronto. But the artificial intelligence-driven surge in demand over the past two years has opened opportunities in new markets where power is still abundant and grids are less constrained.
The Canadian and U.S. real estate markets continue to move on distinct but parallel trajectories, shaped by interest rates, investor sentiment, capital structures and local regulation. That distinction is due to the delta between interest rates in both countries, said Jeff Wagner, senior managing director, IPA markets, Marcus & Millichap, during a session this week at CRE.Converge in Toronto.
Since the first wave of the data center boom in the early 2010s, when fiber optic technology separated from copper and could carry large amounts of data, this evolving sector of commercial real estate has become an area of major focus today, especially when it comes to building with sustainability in mind.
An all-star panel of East Coast industrial developers and investors wrapped up NAIOP’s I.CON East with a candid look at market dynamics across the Eastern U.S., exploring where capital is flowing, key macroeconomic influences on the sector, and the markets' primary challenges and opportunities.
With the demand for data centers skyrocketing, mastering the intricacies of developing this high-demand asset can provide a valuable competitive edge. A panel of experts at NAIOP’s I.CON East this week in Jersey City, New Jersey, delved into the strategic nuances of data center development, addressing critical factors such as site selection, land evaluation and the optimization of infrastructure to meet both current and future needs.
It’s an exciting time in the commercial real estate industry with overall data center growth showing a greater demand for power capacity, crypto, mining and automation, according to David Hickey, global managing director with Hickey & Associates. Hickey moderated a panel on the critical need for power in industrial development at NAIOP’s I.CON West conference this week in Los Angeles.
