Cooling and Water
Make-up water is water added to replace losses from evaporation, blowdown, drift, or leakage in cooling systems. It is a key input for WUE, utility-water planning, and local community impact.
Ready for Service is a commercial milestone when contracted space, power, cooling, connectivity, and supporting infrastructure are available under agreed conditions. It should be defined precisely because rent commencement, service credits, and damages may depend on it.
Read definition →Net operating income is property income after operating expenses but before debt service, depreciation, and income taxes. In powered-land or data center assets, defining revenue and expense pass-throughs is essential before comparing NOI across deals.
Read definition →Development spread is the difference between yield on cost and market cap rate. A positive spread suggests development value creation, but only if cost, schedule, leasing, and power assumptions are credible.
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