AI data centre projects boost US warehouse demand and rents, real estate company JLL says
Average asking rents rose to US$10.55 (S$13) per square foot, up 3.2% from a year earlier.
AI data centre projects near Dallas/Fort Worth and Washington, DC, are driving up warehouse demand and rents in the US, according to real estate firm JLL. Companies like Alphabet, Microsoft, Meta, and Amazon are investing billions in artificial intelligence, which demands significant electricity for servers and cooling systems. This infrastructure boom is creating new opportunities for industrial tenants in freight hubs.
Average asking rents for triple-net leases increased to $10.55 per square foot in Q3, a 3.2% rise from the previous year, marking the fastest annual growth since Q2 2024. The surge in demand is not limited to hyperscale data centre campuses but extends to related industries like construction, telecommunications, and utilities.
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