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New York & Tri-State  + Industrial  |  September 8, 2020
Paul Bubny
By: Paul Bubny

Data Center Development Ramps Up in NYC Region

Driven by continuing demand from the financial sector, Fortune 500 companies and significant increase in remote working due to COVID-19, the New York Tri-State region saw an increase in new data center development during the first half of 2020, according to CBRE’s latest North American Data Center Trends Report. That occurred as vacancy rates dropped to 9.1%, their lowest levels in years.

The region saw just 1.1 megawatts (MW) of net absorption in H1 2020 due to the shortage of available capacity, down from 5.3 MW in the year-ago period. In response, the market has 22.2 MW of new construction underway.

“Digital Realty, the most active operator in the region, is capacity-constrained in New Jersey and will soon begin construction on a new 600,000-square-foot campus in Totowa, with the first building expected to be delivered in Q1 2022,” said Jon Meisel, SVP for CBRE’s Data Center Solutions Group.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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