SAN FRANCISCO, March 18, 2010 /PRNewswire via COMTEX/ -- Digital Realty Trust, Inc. (NYSE:DLR, news, filings), the world's largest wholesale datacenter provider, has completed the first lease agreements at its new Datacenter Park - Dallas property located in Richardson, Texas. The first customers that will establish datacenters at the property include a FORTUNE 500 global company and a leading IT services provider. Digital Realty Trust acquired a 60% joint venture interest in the 69-acre property in September 2009, and immediately began construction on the first phase of the redevelopment to meet strong demand for datacenter space in the Dallas metropolitan market.
The Datacenter Park consists of seven buildings totaling approximately 797,000 square feet, ranging in size from 15,000 square feet to 250,000 square feet. The 69-acre property, located in the heart of the Telecom Corridor(R) (www.telecomcorridor.com) in Richardson, Texas, also contains several developable land sites and a private substation with 40 MW of immediate availability, which is expandable to up to 125 MW. The park is capable of supporting Powered Base Building(R), Turn-Key Datacenter(R) as well as ground up Build-to-Suit solutions. The Company plans to redevelop the property in phases.
"Datacenter Park - Dallas is being developed into the premier data center facility in the southwestern United States, and has the potential to serve as a major engine for economic growth in the Dallas metro area," said Brent Behrman, Vice President of Global Sales for Digital Realty Trust. "Our current development efforts are focused on building out the first Turn-Key Datacenters - to provide customers with move-in ready datacenters - as well as finishing Powered Base Building space for customers that want to do final build-out themselves. The site's size, power, location and flexibility make it very attractive for companies pursuing data center projects."
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter(R) and Powered Base Building(R) datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust's 84 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 14.9 million rentable square feet as of February 25, 2010, including 1.8 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 27 markets throughout North America and Europe. For additional information, please visit Digital Realty Trust's website at http://www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to Digital Realty Trust's redevelopment plans for Datacenter Park - Dallas. These risks and uncertainties include the impact of the current deterioration in the global economy, including the turmoil in the financial and credit markets; the downturn of local economic conditions in our geographic markets, including Dallas, TX; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in our industry or the industry sectors that we sell to; decreases in real estate valuations and resulting impairment charges; our dependence upon significant tenants; bankruptcy or insolvency of one or more major tenants or a significant number of smaller tenants; defaults on or non-renewal of leases by tenants; our failure to obtain necessary debt and equity financing for refinancing current debt obligations, undertaking or completing redevelopment, completing acquisitions or other purposes; increased interest rates and operating costs; our failure to repay debt when due or our breach of covenants or other terms contained in our loan documents; financial market fluctuations; changes in foreign currency exchange rates; our ability to manage our growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; our failure to successfully operate acquired or redeveloped properties; risks related to joint venture investments, including as a result of our lack of control of certain of these investments; delays or unexpected costs in development or redevelopment of properties; decreased rental rates or increased vacancy rates; increased competition or available supply of data center space; inability to successfully redevelop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; our inability to comply with the rules and regulations applicable to public companies; our failure to maintain our status as a REIT; possible adverse changes to tax laws; restrictions on our ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; changes in real estate and zoning laws; and increases in real property tax rates. For a further list and description of such risks and uncertainties, see the reports and other filings by the Company with the United States Securities and Exchange Commission, including the Company's annual report on Form 10-K for the year ended December 31, 2009 and subsequent filings. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Turn-Key Datacenter, Powered Base Building and POD Architecture are registered trademarks of Digital Realty Trust.
For Additional Information:
A. William Stein
Chief Financial Officer and
Chief Investment Officer
Digital Realty Trust, Inc.
+1 (415) 738-6500
Director of Investor Relations
Digital Realty Trust, Inc.
+1 (415) 738-6500
SOURCE Digital Realty Trust, Inc.