Mortenson’s Maja Rosenquist and CBRE’s Gordon Dolven examine one of real estate’s most dynamic sectors. They discuss how AI’s growth has accelerated data center development, how site-selection strategies are evolving and the challenges posed by power constraints.Key takeaways on data center trends:·     Data center site selection is increasingly dictated by access to scalable power, increasing  development in markets with robust energy infrastructure.·     AI-driven demand is accelerating the need for hyperscale campuses, with some sites spanning thousands of acres and requiring gigawatt-level capacity.·     Lease structures are based on power usage rather than square footage, with rental rates rebounding over 50% since 2021 due to limited availability.·     Long-term capital is flowing into the sector, with infrastructure funds driving a shift in investment strategies.·     Labor and construction cost pressures are prompting innovations like prefabrication to meet the demands of billion-dollar builds.