Anders Bylund

You might know these REITs.

They did different things in the past.

For instance, American Tower

really concentrated on building cell towers for 5G wireless networks.

But the data center opportunity really has just been so strong that these companies haven't been able to resist the allure of diversifying their businesses.

A lot of companies are really trying to get data centers on the ground in whatever way they can.

There's a ton of companies out there that have traditionally been in low-growth areas that have turned out to have specific expertise that's vital for data center construction and operation.

It's really helped them take off and generate a whole new growth story.

Sterling Infrastructure, for instance, ticker STRL,

It's traditionally done more civil engineering work.

If you've driven on a highway or you've driven over a bridge, odds are good they may have had something to do with that.

But Sterling has also moved into providing concrete pads and design work on data center installations.

They've also done work on some of the systems that go into them.

And just the project management to get these data centers completed, Sterling has turned into a real business.

It's funny, you mentioned Aon.

There's a couple of other companies that I'm looking at that are in the mechanical, electrical, and cooling area.

Comfort Systems,

ticker FIX, has particular expertise in HVAC applications.

Data Center Refrigeration has become a new focus.

And then mCore, ticker EME, similar exposure to electrical, plumbing, a lot of just the innards of these data centers you don't think of.