>>Data center vacancy rates will reach an all-time low in 2010 as available space is absorbed and the credit crunch squeezes new construction projects, according to an analysis by commercial real estate specialist Grubb & Ellis.
Financing Impacts Time to Market
Kerrigan says that his assessment of supply doesn’t include projects that have yet to secure construction financing, as those facilities may have dificulty meeting timetables for some of the current tenant requirements.
In a market update for his clients, Kerrigan urged data center users to work ahead on data center requirements.
“It is imperative that users pay closer attention to ramping/expansion as they determine how much space/power that they will ultimately need,” writes Kerrigan. “There is likely to be an increase in demand from industries that are newer to data center space (digital television and healthcare companies) and from businesses currently housed in antiquated space. In addition, numerous financial institutions have entered the market for large disaster-recovery solutions throughout the country.”
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