Data center space in the New York Tri-State area has received robust demand during the first half of 2023, according to CBRE’s North America Data Center Trends report.  

This high demand has led to a vacancy rate of 9.8%, with major operators having almost no notable vacancies. Financial services companies and artificial intelligence operators were the most active lessees during this period. However, supply chain issues have impacted construction completions, exacerbating the supply shortage. Despite this, pricing remains resilient, with steady increases across various kW and MW requirements. The report also highlights that data center construction is at an all-time high, driven by strong demand from all users, particularly in AI applications. 

The New York Tri-State area was among the top 10 most active data center markets in H1 2023, with 177.5 MW of total inventory and 99.9 MW under construction.