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DATA DRIVEN

Chicago

Want to get a jump-start on upcoming deals? Meet the major Chicago players at one of our upcoming events!

DATA DRIVEN
Sean Reynolds and Matt Carolan
Demand for data center space is going to hit 30 to 40 MW in 2012, says Jones Lang LaSalle's Matt Carolan (right, with colleague Sean Reynolds), who will be speaking at Bisnow's Chicago Data Center Boom event Dec. 8. That means supply, which is slated to be as low as 35 MW, may not be enough. He tells us that data center tenants looking for co-location space are often prompted to do so by a somewhat catastrophic event, like losing a division of their company (or a giant asteroid slamming into their HQ after hours), so they're often in a hurry to find the right space. With two new co-location centers being built in the South Loop and another four going up in the suburbs, now is the time for possible tenants to make their moves. But investors and developers are circling the wagons, looking for new sites all the time, he says.
latysis
One of the new suburban centers, Latysis in Oak Brook. Chicago has proven a strong market for data centers because of a low incidence of natural disasters (great, now we've jinxed it), a somewhat lower cost of power, and a good labor pool, Matt says. Data centers are some of the only buildings being developed on spec right now, but demand for the centers is arriving quickly and attracting the attention of investors and brokers. Matt anticipates that the need for more data center space will continue to grow as we increasingly use technology like iPads and smartphones. Wanna learn more? Join Matt and other data center experts on Dec. 8 at the Westin Chicago River North. See the full lineup and sign up here!