Nonresidential development planning rebounded in December, pushed by a pointy uptick in information middle and warehouse initiatives, in line with Dodge Development Community.
The Dodge Momentum Index, a benchmark that measures nonresidential development planning, climbed 10.2% to shut 2024. Industrial planning led the cost with a 14.2% enhance, whereas institutional planning posted a extra modest 2.5% acquire, in line with the report.
“Industrial exercise rebounded strongly in December, due to a reacceleration in information middle and warehouse planning exercise,” mentioned Sarah Martin, affiliate director of forecasting at Dodge Development Community. “General, the robust efficiency of the Momentum Index this previous 12 months is anticipated to assist nonresidential development spending all through 2025.”
On a 12 months over 12 months foundation, the DMI jumped 19% in comparison with December 2023. Industrial planning surged 30% throughout that interval, whereas institutional planning remained largely flat.
Knowledge facilities proceed to play a pivotal position in that development, in line with Dodge, however the enhance additionally had a broader base. With out information facilities’ inclusion, business planning nonetheless would have grown 8%, whereas the general DMI would have elevated 5%.
A complete of 32 initiatives valued at $100 million or extra entered the planning section in December. Main business initiatives included:
- Six phases of the $1.6 billion Powerhouse 95 information middle in Fredericksburg, Virginia.
- 4 phases of the $1 billion Brambleton information middle at Tech Park in Ashburn, Virginia.
The biggest institutional initiatives to enter planning included:
- The $226 million OhioHealth Outpatient Most cancers Heart in Columbus, Ohio.
- The $220 million county jail in Peoria, Illinois.
