Supply is scarce, demand is high and land prices are surging in the Dallas-Fort Worth data center market. That perfect storm is set to lead the region to a...
Developers and utility companies alike are jockeying for space to keep up with demand for data center space across North Texas.
The country had a comfortable balance before the COVID-19 pandemic. Over the past few years, the quiet real estate space that supports data storage across sectors has seen supply dwindle to a few percentage points, just holes in existing inventory.There’s more than 5.6 million square feet of data center space in D-FW, with only 157,820 square feet of vacancy, according to a recent report from commercial real estate services firm JLL that highlights the second half of 2023.
“There are not a ton of employees involved with a data center, which goes against normal incentives that we would see, but the business personal property taxes generated by these facilities is gigantic,” Holcomb said. “These things are cash cows.”For developers and utility companies, it’s a question of power and access to it as the lack of supply has caught up with pricing. Holcomb estimates land prices with quality access to power have quadrupled in certain hotspots in the two years.
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