From The Real Deal · TRD Staff · · 40s
Data Centers Boost Real Estate Rents
Data centers drive 32% rent hikes for industrial storage yards near ports.
In brief
Data centers drive 32% rent hikes for industrial storage yards near ports. Industrial storage yards near East Coast ports saw 110% rent growth since 2020 as data centers expand. Originally reported by The Real Deal.
Industrial Storage Demand Rises
Industrial outdoor storage demand surged alongside data centers as construction equipment and materials for data centers use the facilities.
Rents Jump 32% in Five Years
Rents in industrial storage yards surged 32 percent over five years with average net monthly asking rent at $9,443 nationwide.
East Coast Ports See 110% Rent Growth
Rent grew over 110 percent in Houston, Savannah and Norfolk Virginia since 2020 as data centers expand.
The key point
Industrial storage yards near East Coast ports saw 110% rent growth since 2020 as data centers expand.
