Cushman & Wakefield: AI Infrastructure Boom Fuels Growing Wave of Industrial Demand Beyond the Data Center
Data center-related companies accounted for a record 14.4% of industrial leasing across six major U.S. markets in 2025, up 44% from the prior year
As investment in AI infrastructure accelerates, the conversation around data centers has largely focused on power demand, land use and the number of permanent jobs created inside the facilities. New research from Cushman & Wakefield suggests that perspective captures only part of the economic picture.
Cushman & Wakefield recently released From Megawatts to Multipliers: The Data Center Effect on Industrial Demand, Jobs and Local Revenue, a new report examining how data center development is driving industrial real estate demand and generating broader economic activity across the United States through the companies that build, equip, maintain and supply these facilities.
Analyzing more than 388 million square feet of industrial leasing across six major U.S. data center markets between 2022 and 2025, the report found that businesses tied to the data center ecosystem accounted for 10.4% of all new industrial leasing activity during the period. As AI investment accelerated, that share climbed to a record 14.4% in 2025, with data center-related leasing increasing 44% year over year to 13.5 million square feet.
