Power availability in Minneapolis: time-to-power 20.8 months, as of 2026-10-02. Source: DC Hub.
Data Center Market Deep-Dive · 298 words · generated 2026-10-02 from live DC Hub data · DCPI live as of 2026-10-02
This analysis was written on 2026-10-02, when the Data Center Power Index for this market read 29.9. The index is recomputed through the day and reads 29.2 now — the figure above is the live one, and the narrative below describes the market as it stood when it was written.
Asking rate range (broker report): $165–$175 /kW/mo (250-500 kW (CBRE quoted asking rate, 250+ kW N+1/Tier III)), H1 2026.
Asking base rent per kW of critical IT capacity. Electricity is normally billed separately (metered pass-through), plus cross-connects and one-time fees. Signed deals, term and size change the number. Source: CBRE North America Data Center Trends H1 2026 (250+ kW): Minneapolis $165-175/kW/mo (link)
# Minneapolis Data Center Market Analysis
Minneapolis operates at near-equilibrium with balanced power supply and demand constraints that eliminate margin opportunity for new entrants. The market comprises tracked facilities delivering 95 MW of total capacity, with Cologix commanding the largest operator footprint at facilities, followed by DataBank at 6. The DCPI scores—45/100 for excess power and 46/100 for constraint—indicate neither surplus nor acute shortage; this symmetry is the problem.
The dual-constraint verdict of AVOID applies specifically to greenfield development and acquisition at elevated valuation. Investors cannot exploit power premiums (excess-power score signals no surplus pricing power) nor can they justify greenfield capex on the premise of filling constrained capacity. The market lacks the asymmetry that generates returns: no power glut justifies discounted wholesale pricing, and no acute power scarcity justifies premium lease rates. Any acquisition here must clear the bar of legacy operational asset margin arbitrage—purchasing below replacement cost from a distressed seller—not growth-stage positioning.
Deal flow remains thin and operator-concentrated. Three publicly tracked M&A events appear in the record, though specificity is limited: a DataBank acquisition (operator already present with facilities), a second DataBank transaction, and a $235M transaction with undefined parties. Outside the M&A record, contextual intelligence indicates DataBank exercised an option to purchase an MSP2 facility previously leased from Mapletree Industrial Trust, expanding its Minneapolis footprint incrementally. Cologix's facility lead creates natural consolidation pressure on smaller operators, and the presence of legacy players like DataBank suggests the market rewards operational incumbency over capital deployment. A planned 20 MW facility by Legacy Investing signals continued appetite despite Minneapolis's city-level data-center moratorium, indicating developers view regulatory risk as manageable or expect policy shifts.
Forward positioning requires patience: wait for operator financial stress, zoning relief, or anchor-tenant demand (cloud, AI, financial services) before re-evaluating entry.
Minneapolis: 95 MW — live, cited, and queryable by API or MCP.
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JSON: /api/v1/markets/minneapolis/deep-dive · DCPI: /dcpi · Operators: /operators · Updated nightly
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