CoreSite Realty Corporation (NYSE:COR) (the “Company” or “CoreSite”), a premier provider of secure, reliable, high-performance data center, cloud and interconnection solutions in major U.S. metropolitan areas, today announced it has issued its “2019 Corporate Sustainability Report,” which is posted on the Company’s website.
“Customers, Colleagues, and Communities are three words to describe how our business strategy intertwines with our sustainability practices,” said Paul Szurek, CoreSite’s President and Chief Executive Officer. “In our third Corporate Sustainability Report, we summarize another year in our journey of being a responsible steward for all of our stakeholders. We remain committed to being a reliable partner, people centered, and efficiency focused.”
2019 Corporate Sustainability Report Highlights
Customers – CoreSite’s reliable and energy efficient data centers
CoreSite provides superior reliability and seeks the least carbon-intensive energy generation sources consistent with its customers’ economic goals and options permitted in its markets. As part of those objectives, CoreSite’s 2019 accomplishments include –
- achieving “Eight 9s” of reliability across its platform of data center facilities,
- improving 2019 Power Utilization Effectiveness by 4.8% on a same-store basis compared to 2018, and
- decreasing our energy intensity per NRSF compared to 2018 despite increased energy consumption.
Colleagues – A culture of respect, responsibility, transparency, innovation and operational excellence
CoreSite continues to shape its culture by empowering its employees and valuing their diversity and leadership, ultimately driving the Company’s success and that of our stakeholders. Key metrics for 2019 include –
- being recognized as one of the top workplaces in the Bay Area for 2019,
- decreasing voluntary attrition to 10.8% from 15.7% in 2018, well below the U.S average of 14%, and
- increasing the percentage of veterans at CoreSite from 15% to 21%.
Communities – Rich ecosystem of customers that work seamlessly together
CoreSite strives to enhance our strong data center ecosystems to provide our community of customers with collaborative opportunities in their IT journeys while engaging with our local communities. Highlights from CoreSite’s community involvement in 2019 include –
- providing 650 hours of volunteer service by our headquarter employees,
- providing $48,000 worth of volunteer hours to Brother’s Redevelopment Paint-A-Thon recipients, and
- designing and building a raised garden bed and horseshoe pits for The VA Homeless Domiciliary.
In response to the coronavirus (“COVID-19”) pandemic, CoreSite implemented a COVID-19 charitable donations matching program resulting in approximately $305,000 donated to benefit the local communities in each of our eight markets, specifically to support, among other things, COVID-19 relief agencies, medical organizations, food banks, and homelessness assistance efforts.
“The past several months have been challenging for all of us due to the pandemic. At CoreSite, we have continued to prioritize the safety, satisfaction and general welfare of our customers, colleagues, and communities,” Paul Szurek stated.
CoreSite Realty Corporation (NYSE:COR) delivers secure, reliable, high-performance data center, cloud, 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: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the level of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; the effects on our business operations, demand for our services and general economic conditions resulting from the spread of the Novel Coronavirus (“COVID-19”) in our markets, as well as orders, directives and legislative action by local, state and federal governments in response to such spread of COVID-19; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company 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 the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.