JLL reports North America data center midyear outlook

JLL has published its North America Data Center Report Midyear 2026, providing a market outlook on vacancy, construction, and financing conditions.

• Vacancy is expected to remain near 1% through 2028, with most available space sold in small fragmented blocks and many tenants contracting for 2028 deliveries.
• The report says more than 66 GW is under construction in North America, with 77% in frontier markets; it also notes $17 billion in SASB/CMBS and ABS data center volume in H1 2026, up 29% year over year, and cites low-200 bps spreads and up to 85% loan-to-cost for top-tier hyperscaler loans.