Americas Data Center H2 2024 Update

ATLANTA AMERICAS PRIMARY MARKET

SUWANEE

ALPHARETTA

KEY INDICATORS*

716MW In Operation

895MW 2024 Colo Leasing

METRO ATLANTA

LITHIA SPRINGS

DOUGLASVILLE

1,078MW Under Construction

3.5% Colo Vacancy

EAST POINT

*Definition: Key indicators are based on operational Hyperscale Cloud, Colo, Edge & Telco data centre facilities in the market and excludes Captive & ICT.

ECOSYSTEM DEVELOPMENTS •

MARKET OVERVIEW All signs in the Atlanta data center market point to sustained heightened demand, as hyperscalers and colocation providers continue to expand their footprints. The largest amount of space currently available in an operational data center is 5MW, while the under-construction pipeline exceeds 1GW, and planned projects total more than 3GW. Without large availabilities, occupiers have turned to upcoming development to satisfy their need for capacity. Colocation data centers currently under construction are 89% preleased, and planned projects are 27% preleased — both figures leading the nation in terms of preleasing percentages for established data center markets. The Atlanta City Council recently passed new legislation limiting new data center development in Atlanta, primarily near the Beltline and within a half a mile of MARTA stations, as they desire residential development and green space in these areas. While this news excludes these sites from consideration for data center development, it is not expected to limit supply. Developers have increasingly looked to suburban Atlanta and beyond for large parcels of land suitable for multi-facility campuses — a trend that has continued in recent years as large infill sites become scarcer and infill land values appreciate. Hyperscalers and colocation providers looking to establish or grow their presence in the Atlanta or across Georgia benefit from several advantages. In line with the state’s business friendly stance, Georgia Power has been approved to bring an additional 1.4GW of power online from Plant Yates, Governor Kemp vetoed a bill that sought to pause data center tax exemptions, and a tax credit for upgrade and expansions to existing data centers remains in place.

Atlas Development LLC proposed a $17 billion, 13-building data center campus called Project Sail, to be built on 832 acres near Newnan, Georgia, adjacent to Welcome Sargent Road and Wagers Mill Road. If approved, the campus would cover 4.9 million sf and generate an expected $1.6 billion in annual tax revenue after its estimated 2036 completion. • Stream Data Centers is planning a major new campus outside Atlanta, which will include nine data center buildings and two substations. The campus will span approximately 1.34 msf and is expected to offer up to 280MW of power within 24 months of lease execution. This development marks Stream's first significant entry into the Atlanta market. • Northern Data Group is developing a state-of-the-art data center in Maysville, Georgia, to meet the growing demand for AI and High-Performance Computing (HPC) solutions. The facility will deliver 120MW initially in the first quarter of 2027, with the potential to expand to 180MW, The center is expected to support the local economy with the creation of up to 100 new jobs. • Edged Energy launched its first North American data center at 1800 Tilford Yard in Atlanta. The campus will feature three data centers, with the first now live, delivering 27MW of capacity and expected to reach 168MW at full build-out. • Data Core Innovations proposed the Rumble Technology Campus, a $1.2 billion data center project in Monroe County, Georgia. Spanning 900 acres between Forsyth and Macon, the campus will feature up to 12 buildings totaling 4.2 msf. The Monroe County board approved rezoning for the northern 525 acres from agriculture to commercial use. Construction is slated to start in late 2025 or early 2026, with the first building expected to launch in 2028.

CUSHMAN & WAKEFIELD | AMERICAS DATA CENTER MARKET OVERVIEW