Where real estate meets rhythm | Developer, investor, live music enthusiast, and mountain seeker.

The North American data center market has officially hit a new inflection point. Vacancy dropped to just 1.6% in the first half of 2025, a record low, as AI adoption and hyperscale growth fuel unprecedented preleasing activity. For developers, investors, and operators, this isn’t just a strong market—it’s a structural shift in how digital infrastructure is built, financed, and delivered. Demand Is Outpacing Supply—By Design CBRE’s H1 2025 Data Center Trends report highlights what we see firsthand: tenants are no longer waiting for supply to hit the market. Hyperscale and AI-driven occupiers are preleasing space years in advance to guarantee access to power and capacity, which are now the two defining constraints in site selection. Nearly three-quarters of all capacity under construction is already spoken for. As developers, this means our timelines, capital structures, and land strategies must account for a world where absorption is front-loaded. Power is no longer just a utility—it’s ...

Sunday, August 3, 2025 By Daniel Kaufman As we close out the weekend, it’s worth reflecting on how dramatically last week shifted the economic landscape—and what it means for capital, lending, and real estate fundamentals going forward. Labor Market Turns Spotlight on Weakness Last Wednesday, the Federal Open Market Committee elected to maintain its benchmark rate at 4.25%–4.50%. As expected. But two Fed Governors—Waller and Bowman—voted for a cut, marking the first dual dissent since 1993. Despite that, Chair Powell sounded hawkish in his post‑meeting remarks, reaffirming that labor market conditions remained “broadly in balance.” That set the stage… until Friday’s jobs report hit. On Friday, Nonfarm Payrolls revealed just 73,000 jobs added in July—well below consensus expectations. Even more concerning, revisions cut May and June payroll gains by a staggering 258,000 jobs. The three-month average cratered from approximately 150,000 down to just 35,000 per month. For real estate profe...