仲量联行（JLL）：2025年年中北美数据中心地产市场报告（英文版）（15页）.pdf

1、Another record performance despite some uncertaintyNorth AmericaData Center ReportNorth AmericaMidyear 2025RKey highlightsSupply and demand trendlines remain intact,despite market turbulence in H1DeepSeek,tariff implications and hyperscalers walking away from leases created significant uncertainty i

2、n H1.Despite this,the sector maintained momentum and delivered a fresh set of records.Vacancy declines to a new record low of 2.3%,strong preleasing will suppress vacancy through 2027Colocation vacancy is constraining economic growth and undermining national security.The construction pipeline of 8 G

3、W is 73%preleased,signaling that vacancy will remain restrictive for the next few years.Demand remains concentrated in core markets,led by Northern Virginia and DallasWith vacancy near 0%,virtually all absorption is the result of preleasing.A markets ability to capture demand relies on the size of t

4、he development pipeline and product available for lease.North America could see$1 trillion of data center development between 2025 and 2030More than 100 GW of capacity(colo+hyper)could break ground or deliver between 2025 and 2030.There is strong investor appetite to fund development.Projects under

5、construction are 73%preleased.2025 Jones Lang LaSalle IP,Inc.All rights reserved.North America Data Center Report2North America Data Center ReportLeasing Dynamics 2025 Jones Lang LaSalle IP,Inc.All rights reserved.3Dallas-Fort Worth1,539Pacific Northwest1,045Chicago882Northern California810Phoenix86

6、5Austin/San Antonio921New York192Las Vegas/Reno362Toronto380Southern California355Salt Lake City157Houston151Denver122Northern Virginia*not to scale5,574Midyear 2025Midyear 2025North America colocation statisticsNorth America colocation statisticsInventory15.5 GWVacancy2.3%H1 2025 absorption2.2 GW H