By BISNOW
Only a few years ago, data centers were viewed as a small, niche part of commercial real estate. Now they are one of the hottest asset classes, with the U.S. market alone valued at $270B and expected to grow to $700B by 2034.
This boom has been hyperaccelerated by the rise of artificial intelligence and the ever-increasing demand for the cloud and digital infrastructure. As a result, data center construction has branched out beyond hubs in Northern Virginia and Silicon Valley and into smaller communities across the country while power grids struggle to keep up with demand. This has led to controversy, debates and a rise of NIMBYism from residents who want to keep these massive facilities away from their homes.
