{"comps":{"land":[],"powered_shell":[]},"hero":{"composite_score":null,"computed_at":"2026-10-27T08:31:25.758241+00:00","constraint_score":41.4,"excess_power":47.2,"iso":"MISO","lat":41.59,"lng":-93.62,"name":"Des Moines","queue_wait_months":null,"slug":"des-moines","state":"IA","time_to_power_mo":18.2,"time_to_power_months":18.2,"verdict":"AVOID"},"is_pro":true,"kpis":{"facility_count":49,"headline_basis":"every facility listing DC Hub tracks in this market (operational, under construction, planned and announced; verified and unverified listings included), deduplicated by name + operator across the facilities and discovered_facilities tables. MW is summed over the listings that report capacity (mw_reporting_count of facility_count), so read it as a floor.","lease_rate":null,"mw_reporting_count":8,"operational_mw":823.0,"pipeline_mw":0.0,"queue_months":null,"top_operator":{"facility_count":7,"name":"Meta"},"total_mw":823.0,"unverified_included":true,"vacancy_pct":null},"live_as_of":{"age_hours":0.1,"iso":"2026-10-27T08:31:25.758241+00:00"},"ma":[],"ok":true,"open_access":"Open to every caller: this is one of the 20 largest US data-center markets by tracked capacity, and its full market briefing (grid, risk, time to power, scores) is free.","operators":[{"facility_count":7,"operator":"Meta","ranked_by":"facility_count","total_mw":500.0},{"facility_count":4,"operator":"Microsoft","ranked_by":"facility_count","total_mw":300.0},{"facility_count":3,"operator":"Cologix","ranked_by":"facility_count","total_mw":0.0},{"facility_count":1,"operator":"Involta","ranked_by":"facility_count","total_mw":15.0},{"facility_count":1,"operator":"LightEdge","ranked_by":"facility_count","total_mw":8.0}],"outlook":{"generated_at":"2026-10-25T09:34:44.262535+00:00","narrative_md":"# Des Moines Data Center Market Analysis\n\nDes Moines remains Iowa's dominant data center hub with 49 tracked facilities totaling 823 MW across operational, under-construction, and planned assets. Meta operates the largest footprint with seven sites, followed by Microsoft with four facilities and Cologix with three. The market's infrastructure reflects years of hyperscale investment, though recent momentum has stalled\u2014no new deals have been tracked in the current cycle.\n\nThe DCPI verdict of AVOID stems from structural supply-demand imbalance: an excess-power score of 47/100 paired with a constraint rating of 41/100 indicates oversupply relative to near-term demand. For investors and operators, this dual signal means power availability outpaces customer pull-through, creating pricing pressure and elongating sales cycles for available capacity. Buyers should expect extended lease negotiations and landlord concessions. Operators holding dark or underutilized megawatt capacity face extended breakeven timelines, particularly if they entered the market at peak construction costs.\n\nThe absence of recent deal activity reinforces the cautious outlook. No recorded transactions in Des Moines stand in sharp contrast to broader market consolidation trends visible in other geographies\u2014Aligned Data Centers alone announced $5B in investment and acquisition activity during overlapping periods. Meta and Microsoft, the two largest incumbents by footprint, show no signals of expansion or divestiture. Cologix's three-site position suggests a stabilized, non-growth posture. The lack of deal flow indicates limited conviction among capital allocators that Des Moines offers attractive risk-adjusted returns in the current environment. Smaller regional operators face particular headwinds competing against entrenched hyperscale tenants with captive capacity.\n\nThe market's trajectory hinges on sustained hyperscaler demand migration to Midwest corridors and whether existing dark capacity can absorb customer commitments faster than oversupply metrics suggest.","rationale":null,"verdict":"AVOID","word_count":277},"pipeline":[],"power_grid":{"gen_additions_mw":237.5,"interconnection_pending_mw":266511.23,"iso":"MISO","iso_queue":{"as_of":"2026-10-27","as_of_basis":"live_feed_fetch_date","basis_note":"Active only, summer MW; excludes Done, Pending and Withdrawn","iso":"MISO","queue_kind":"generation_queue","queued_generation_gw":266.7,"source_name":"MISO GI Queue API (applicationStatus=Active, summer MW)","source_url":"https://www.misoenergy.org/api/giqueue/getprojects"},"queue_capacity_mw":14146.8,"queue_wait_months":null,"reserve_margin_pct":18.5,"time_to_power_as_of":"2026-10-27T08:31:25.758241+00:00","time_to_power_basis":"DCPI modelled months to energize a new large load in this market (method: https://dchub.cloud/dcpi/methodology); a model estimate, not a utility date","time_to_power_months":18.2},"redirect_to":null,"requested":"des-moines","risk":{"drought_months_d2_plus":null,"errors":{"drought_months_d2_plus":"no_drought_source_ingested"},"water_band":2,"water_band_label":"Low-Medium","water_category":"mean of 64 Aqueduct 4.0 baseline-annual basins (arid counted as ","water_stress":21.9,"wildfire_seismic_note":null},"slug":"des-moines","tier":"FREE"}