25 MW of Additional Electrical Power Brought Online to Support Facility's Growth
SAN FRANCISCO, April 5, 2010 /PRNewswire via COMTEX/ --SAN FRANCISCO, April 5 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE:DLR, news, filings), the world's largest wholesale datacenter provider, has completed a multi-year project to significantly increase the electrical power available at its 120 East Van Buren Street property, a 287,500 square foot data center facility in Phoenix. In collaboration with APS (www.aps.com), Arizona's leading electric utility, more than 25 MW of additional electrical power has been brought online since Digital Realty Trust's acquisition of the property. The power capacity at the building now totals 31.4 MW. In addition, Digital Realty Trust and APS have made major upgrades to the electrical equipment supporting 120 East Van Buren, giving it one of the most robust, reliable power supplies in the state.
"Completing this project to bring additional power to 120 East Van Buren is the culmination of a multi-year revitalization plan for the property. Since acquiring the property in 2006, we have worked closely with customers in the building to determine their needs, and it was clear that additional power was needed. APS has been a great partner in this process, and the result is a nearly five-fold increase in the electrical power at the property," said Brent Behrman, Vice President, Global Sales at Digital Realty Trust. "These efforts position 120 East Van Buren as an engine for economic growth in Arizona, providing critical infrastructure for the critical IT systems of companies requiring data center capacity in the Southwest."
With the expansion of electrical capacity completed, Digital Realty Trust is now planning to convert an additional 30,000 square feet of redevelopment space into Turn-Key Datacenter(R) space to meet customer demand. Behrman added, "Demand for data center space is strong in Phoenix, but the supply of space with the right technical specifications and adequate power is limited. By redeveloping this space at 120 East Van Buren, we will bring a significant amount of raised-floor data center space to market to address these requirements."
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 plan to convert redevelopment space into Turn-Key Datacenter(R) space. 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 Phoenix, AZ; 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 datacenter 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 and Powered Base Building 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.