Originally published on April 20, 2023, by Michael Tucker for the Mortgage Banker's Association.
Mass adoption of cloud computing and artificial intelligence is driving exponential growth for data centers, reported JLL, Chicago.
“After the pandemic removed the four walls of the workplace, our new world of hybrid work has created an unprecedented need for digital technology,” said Andy Cvengros, Managing Director with JLL. “Employees are looking to their companies to create a seamless experience wherever they choose to work, requiring intelligent technology solutions to bridge the gap between the physical and the digital. As this reliance on digital technology increases, the data center industry is experiencing impressive growth and catching the eyes of investors and lenders as a strong, alternative asset class that has been relatively unimpacted by continued economic uncertainty.”