JLL Says AI Demand Turns Data Centers Into ‘Hottest Asset Class’
- CEO Ulbrich sees property play for ‘the next five to 10 years’
- High-end offices hold up while ‘commodity’ buildings struggle
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Jones Lang LaSalle Inc.’s chief executive officer said demand is soaring for data centers as corporate America embraces artificial intelligence, creating a rare bright spot in a commercial-property market faced with rising office vacancies.
“It’s the hottest asset class at the moment,” CEO Christian Ulbrich said Monday in a Bloomberg Television interview. “When you believe in AI, the demand for data centers will only go up.”