Two of the largest data center markets in Canada have experienced rapid industry changes in the past years. For Montreal, the city with the lowest energy costs in the continent, new vacancies have increased opportunities for investors seeking higher returns, while Toronto has seen solid market absorption in the past several months.
Toronto remains exceptionally attractive for its diversity of financial and tech enterprises and diversity of supply. Recent mergers have brought new entrants into the city, with Oracle placing its cloud and data center infrastructures at the Cologix TOR1 data center in early 2019.
The low cost green power supply in Montreal remains an attraction, with three large buyouts over the past six months providing funding for planned expansion. Cologix has acquired Montreal-based infrastructure provider Metro Optic, providing additional capacity in the Montreal and Toronto markets.