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The technology giants that run consumers' world — Apple, Facebook, Google — make texting, swiping, posting and snapping easy, typically with a single tap. But behind the effortless façade of social media and the internet is a niche part of the real estate sector: data centers.
The physical buildings that hold and store internet data have grown in necessity alongside the rise of technology and software giants. And like their so-called FAANG clients, the group has seen an acceleration during the coronavirus pandemic.
"If there's one real estate sector that is immune from the Covid headwinds its tech real estate," Hoya Capital Real Estate's founder and president Alex Pettee told CNBC.