AI data center projects boost US warehouse demand and rents, real estate company JLL says
JLL•AI data center construction, particularly near Dallas/Fort Worth and Washington, DC, is generating warehouse demand and helped lift US asking rents 3.2% year over year to $10.55 per square foot in the third quarter, JLL said.
1. Data centers spur demand
AI data center construction projects are generating new warehouse demand, particularly near Dallas/Fort Worth and Washington, DC, and helped send rents higher in the third quarter, JLL said. Suppliers and infrastructure providers are clustering near hyperscale campuses in major freight hubs such as Dallas/Fort Worth.
2. Rents rise 3.2%
Average asking rents rose to $10.55 per square foot, up 3.2% from a year earlier, the fastest annual growth since the second quarter of 2024. The figure is based on triple-net leases, in which tenants pay property taxes, insurance and upkeep of common areas separately from base rent. Demand from construction, telecommunications and utilities-related tenants also increased.
