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.
About CoreSite
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.
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