CBRE Report: US Data Center Momentum to Continue, Bolstering Restrained Construction Market

Data centers will remain a bright spot in the US commercial real estate market through the second half of 2026, even as construction activity in most other sectors stays subdued, according to a new report from CBRE. The commercial real estate services firm said the ongoing buildout of AI infrastructure is a "key pillar of demand" that is keeping the market resilient amid economic and geopolitical headwinds.

The report, titled the 2026 US Real Estate Outlook Midyear Review, serves as an update to CBRE's January forecast and reflects how economic shifts and geopolitical issues—including conflicts in the Middle East that have driven up energy prices—have reshaped the landscape for commercial real estate. Despite those tremors, CBRE said the US market should hold its ground and, in some cases, improve during the second half of the year.

CBRE's updated projections also indicate that industrial and logistics leasing will post a record year—a trend that rival firm Cushman & Wakefield last month linked directly to data center growth. The office market, meanwhile, is expected to benefit from "soaring demand" from tech companies, as well as a resurgence in interest from financial and professional services firms.

One of the report's most notable findings concerns data center preleasing. CBRE now predicts that under-construction data centers will achieve an "even higher preleasing rate" of 80 percent this year, up from its previous forecast of 75 percent. That figure sits well above the historical range of 40 to 50 percent, underscoring the strength of tenant demand in the sector.

"The US real estate market has withstood economic and geopolitical headwinds this year and is well positioned for further growth," said Henry Chin, CBRE's global head of research. "We're seeing strong sectors like data centers and retail continue their momentum and recovering sectors like office and life sciences make further gains. Most sectors should benefit as geopolitical issues abate."

The findings highlight how AI infrastructure has become a central driver of commercial real estate activity, particularly for data center development. As enterprises and cloud providers race to expand capacity, the sector is absorbing capital and space at a pace that is increasingly setting it apart from the broader construction market. With preleasing rates expected to climb, developers are gaining greater financial certainty before breaking ground, which could further accelerate the pace of new projects in the months ahead.