What is the typical operating expense (Opex) as a percentage of gross revenue in data centers?

In the realm of data centers, a typical operating expense (Opex) percentage of gross revenue falls within the range of 35-45%. This range is attributable to the unique and highly specialized nature of data center operations, which involve significant costs for utilities, maintenance, security, staffing, and technology upgrades. Data centers require substantial energy consumption, both for powering servers and for cooling systems, which drives Opex higher than in many other property types.

Moreover, the complexity of managing a data center involves ongoing investments in infrastructure and technology to ensure efficient performance and compliance with ever-evolving industry standards. This capital-intensive environment typically leads to elevated operational costs that necessitate a higher percentage of revenue allocated to Opex.