CoreSite to build 175,000-square-foot CH2 enterprise-class data center in downtown Chicago to meet strong customer demand
DENVER--(BUSINESS WIRE)--Feb. 14, 2018-- CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions across the U.S., today announced that it has acquired a two-acre land parcel in downtown Chicago, Illinois, on which CoreSite expects to build CH2, a greenfield development of a 175,000-square-foot, turn-key, four-story data center supporting 18 critical megawatts of power capacity.
CoreSite currently expects to commence construction on CH2 at the end of 2018 or the beginning of 2019, with timing dependent upon the receipt of necessary entitlements and permits. CoreSite expects to construct the building in three phases, consisting of 6 megawatts of capacity per phase, with a total estimated cost of $190 to $210 million at full build-out.
CoreSite’s CH2 enterprise-class data center will be located one mile from its existing CH1 facility and network node, and CoreSite plans to connect the two sites via diverse, high-count, dark fiber to create the type of campus interconnectivity most valued by its scale customers. CoreSite’s centralized downtown location, adjacent to the Board of Trade, continues to differentiate its data center offering, providing access to exceptionally low-latency connections for the many financial, healthcare, and media companies in this market.
With the development of CH2, CoreSite’s Chicago campus will provide current and prospective customers with:
“We are pleased to have acquired land in downtown Chicago, providing us with much-needed capacity to serve new and expansion requirements of current and prospective customers in the fifth largest multi-tenant data center market in North America,” said Paul Szurek, Chief Executive Officer at CoreSite. “We expect CH2 to enhance our ability to compete effectively in the Chicago market for customer requirements seeking a high performance, cloud-enabled and scalable, higher density colocation solution.”
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,200 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 450+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.
Forward Looking Statements
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