AI Data Center Projects Push Up US Warehouse Demand and Rents
JLL says AI data center construction increased demand for warehouse space near Dallas and Fort Worth and Washington, DC, Reuters reports, via The Straits Times. Suppliers and infrastructure providers are clustering near large data center campuses, increasing demand from construction, telecommunications and utility tenants.
Average asking rents reached $10.55 per square foot in the third quarter, up 3.2% from a year earlier. JLL said this was the fastest annual increase since the second quarter of 2024.
The figures are based on triple-net leases, under which tenants pay property taxes, insurance and upkeep separately from base rent. JLL is a commercial real estate services firm that earns fees from leasing such space.
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