Intelligent Investment

Toronto

North America Data Center Trends H2 2023

3月 6, 2024 読む所要時間:約4分

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Colocation Insights

  • Leasing was relatively muted in H2 2023.
  • Lease pricing may rise alongside increasing requirements, due to limited space supply at the three to 10+ MW tier.
  • Major permitting issues impacted preleasing activity from 2022 to H1 2023, potentially causing project delays or cancellations.

Market Trends

  • Construction timing and delays are interrupting delivery timelines for major projects.
  • The feasibility of a development project has depended on the ability to procure and pre-order generators.

Notable Activity

  • Digital Realty’s new developments, expansions and power delivery timelines are strongly progressing.
  • OVHcloud plans to expand in Canada with a new data center in Toronto.
  • Cologix built a 15-MW data center in Markham, Ontario.

Figure 1: Market Development Information

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 2: Market Inventory and Vacancy

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

Figure 3: Market Fuel Mix

Source: Toronto Hydro.

Figure 4: Average Asking Rates

Source: CBRE Research, CBRE Data Center Solutions, H2 2023.

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