New Albany data center market brief

New Albany's data center market comprises 41 tracked facilities totaling 1,815 MW across operational, under-construction, and planned assets. Google leads with 7 facilities, followed by Amazon Web Services with 6 sites, while Quality Technology Services and Vantage operate 4 and 3 facilities respectively. The market has drawn sufficient infrastructure investment to warrant grid expansion—recent reporting indicates New Albany secured a dedicated electric grid to support data center power demands, reflecting acknowledgment of the sector's role in the region's economic footprint.

The DCPI verdict of AVOID stems from a critical structural mismatch: excess-power capacity rated 30/100 combined with a constraint score of 60/100 signals that while power supply exists, acquisition and delivery mechanisms remain inefficient. Buyers pursuing capacity expansion or new facility development face material friction in securing reliable, cost-effective power access. A constraint score at 60/100 places New Albany in the same problematic range as Columbus, where power-acquisition barriers have demonstrably increased deployment costs and compressed project economics. For investors evaluating New Albany against competing geographies, the combination of constrained power procurement and modest excess generation capacity creates a structural headwind that outweighs the benefit of existing operator density.

Deal flow in New Albany shows stagnation: no recent transactions were tracked against the 41-facility footprint. This absence is notable given the scale of tracked capacity and the market's operator concentration. The geographic clustering of hyperscaler assets—Google and AWS together control 13 of 41 facilities—suggests that expansion capital has already flowed to preferred operators rather than generating secondary-market liquidity or attracting new entrants. Aligned Data Centers, which has executed multiple acquisitions in adjacent markets, has not appeared in New Albany transactions, indicating either saturation among existing operators or insufficient opportunity economics to justify entry or acquisition activity.

Forward momentum depends on whether New Albany's grid infrastructure investments translate into tangible constraint relief, though current DCPI signals suggest near-term power availability will remain a material constraint on new deployments.