Insights into Northern NJ’s Data Center Market

On Oct 7, 2024

Northern New Jersey is one of the leading data center markets in the country, and the sector’s explosive growth is creating opportunities for the commercial real estate and architecture-engineering-construction community. NAIOP New Jersey’s recent program, “CEO Perspective: Data Centers: Trends, Challenges, and Opportunities for Commercial Real Estate Professionals” explored current trends – including a colocation market update and how data center design is changing for AI users – as well as provided insight into operational challenges and the potential for investment in this rapidly changing market sector.

Blake Chroman, principal of Sitex Group, moderated the panel discussion, which was held at the Embassy Suites by Hilton Berkeley Heights. Expert panelists included Terence P. Deneny, senior vice president, STO Building Group; Sean P. Brady, managing director, Cushman & Wakefield; Nicole Swan-Bennett, director – Business Customer Solutions, PSE&G; Christopher Hager, PE, LEED AP, managing principal, Langan; and Michael J. Pembroke, COO and principal, Russo Development.

“Every year our lives become increasingly more reliant on data and artificial intelligence. It is crucial for New Jersey’s economic future that our state positions itself as a leader in this field,” said Dan Kennedy, NAIOP NJ CEO. “Tonight’s program, which shared vital knowledge and insights from and with New Jersey’s commercial real estate leaders regarding data center development, was an important step. This is an emerging asset class we will be focusing on for the foreseeable future. We are especially grateful for the face-to-face relationships we are forming with key utility leaders, who will be key partners in any endeavor related to these energy-intensive commercial real estate assets.”

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