Thoughts by ... Bill Mears of Coldwell Banker Commercial Mcguire Mears & Associates
$1 BILLION DOLLAR 175-MEGAWATT DATA CENTER CAMPUS BREAKS GROUND NEAR O’HARE
In pursuit of large property tax bills and ancillary jobs generated, the state of Illinois is prioritizing the attraction of data center companies. Surprisingly, data centers are staffed 24/7 with specialists that provide support and security. They require relatively high staff numbers, providing direct employment to the local community across various skill levels.
Research has shown that data centers share the pool for high-tech labor with industries such as architecture, engineering, computer system design, software, telecommunications, scientific research & development, and technical consulting. The existence of a vibrant data center market helps to attract talent that supports all of these vital industries.
- An enterprise data center is typically a $750 million dollar investment
- 1,200 construction jobs
- $500 million through the local economy during construction
- 100 direct employees
- Support for 300 additional jobs in security and maintenance
- Approximately $200 million dollars in local economic activity
Thoughts from inside the box…
Janesville has 250 acres of shovel ready vacant land with approximately 33 megawatts of power when the plant was operational. Read more…
https://product.costar.com/home/news/382512319?tag=7
SUPPLY CHAIN & LOGISTICS DRIVE SITE SELECTION
“What is, by far, the biggest determining factor that goes into where companies locate real estate? Transportation. It’s not even close.”
- Adam Roth, CCI, SIOR, executive vice president of NAI Hiffman at CRE:Converge 2022, a NAIOP event.
Roth made several declarations about industrial development.
- “Supply chain, logistics and transportation play a major role in site selection for industrial real estate.”
- “Deglobalization is real, and it’s happening,” he said. “With climate change, you’re going to see migration in the population. Where’s fresh water? Where’s the smallest possibility of natural disasters?” Those factors “are going to make you want to get close and bring manufacturing components, where you can, back to North America. All of this is great for industrial real estate. I’m all in. The story is evolving, but industrial real estate is positioned extremely well.”
Thoughts from inside the box…
Janesville has 250 acres of vacant land, shovel ready, with approximately 33 megawatts of power served by two railroads and a 4- lane boulevard to I90. And, we’ve got the water and outside of tornados no natural disasters.
The full article by Ed Finkel, a freelance writer based in Evanston, Illinois, is posted on NAIOP’s web site. NAIOP is the leading organization for developers, owners and investors of office, industrial, retail and mixed-use real estate.
https://blog.naiop.org/2022/10/how-supply-chain-and-logistics-drive-site-selectionI