- Executed hyperscale pre-lease for Phases I and 2 at SV8 –
- Closed on SV9 property purchase for further development of the Santa Clara campus -
DENVER--(BUSINESS WIRE)--May 13, 2019-- CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions across the U.S., announced that in April it executed a sizeable pre-lease at its SV8 Data Center at its Santa Clara campus.
Hyperscale Pre-lease in Santa Clara
In April, CoreSite pre-leased approximately 108,000 net rentable square feet, or about two-thirds of its SV8 data center that is under construction, including phases 1 and 2. CoreSite expects to complete construction on phases I and 2 late in the third and fourth quarters of 2019, respectively. The addition of this hyperscale lease complements CoreSite’s Santa Clara campus that currently serves a wide range of core retail, scale and hyperscale colocation customers.
CoreSite’s current development of SV8 and future development of SV9 reflect its strategy of operating a national platform of network-dense, cloud-enabled data centers, hosting enterprises, networks and cloud service providers to enable high-performance applications among CoreSite’s customers.
Opportunistically Evaluating Scale Leases that Value CoreSite’s Differentiated Data Centers
“We’re very excited to have executed this hyperscale pre-lease at our SV8 data center,” said Maile Kaiser, CoreSite’s Senior Vice President of Sales. “We expect to continue to pursue scale and hyperscale opportunities for businesses who require low latency and high performance capabilities and that value our differentiated, rich ecosystem, located in our edge markets. As we continue to focus on our current property development pipeline with ground up developments in Santa Clara, Virginia, Chicago and Los Angeles, and expansions at our NY2 and Boston data centers, we will be looking for the right scale opportunities that complement our valuable core retail colocation business base,” said Kaiser.
The CoreSite Silicon Valley data center portfolio is comprised of seven operational data centers with an additional facility (SV8) under construction, and a planned future data center development (SV9), providing colocation solutions to one of the largest concentrations of Internet and technology companies in the world. More than 250 international and national carriers, social media companies, cloud computing providers, media and entertainment firms, and enterprise customers connect to do business in CoreSite’s Silicon Valley data centers. The campus ecosystem also offers access to the Any2Exchange® for Internet peering, the largest peering exchange on the west coast, and AMS-IX Bay Area, as well as the CoreSite Open Cloud Exchange® enabling multi-cloud architectures through the one-to-many cloud and service provider access.
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 1,350 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
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite's control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: any adverse developments in local economic conditions or the demand for data center space in these markets; operational difficulties, including difficulties relating to information systems, internal processes and information security; significant industry competition; financial market fluctuations; and other factors affecting the real estate industry generally. All forward-looking statements reflect CoreSite's good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, CoreSite disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause CoreSite's future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in CoreSite's most recent annual report on Form 10-K, and other risks described in documents subsequently filed by CoreSite from time to time with the Securities and Exchange Commission.