SAN FRANCISCO, April 15, 2010 /PRNewswire via COMTEX/ --Digital Realty Trust, Inc. (NYSE:DLR, news, filings), the world's largest wholesale datacenter provider, announced plans today to build out the next phase of over 170,000 square feet of new Turn-Key Datacenters(R) in five major metropolitan markets to meet escalating demand for its move-in ready datacenter space. The new Turn-Key facilities will be built in the Company's following top markets:
- Over 53,000 square feet of Turn-Key Datacenter space in Northern New Jersey;
- Approximately 34,000 square feet of Turn-Key Datacenter space in the London metro area;
- Approximately 29,600 square feet of Turn-Key Datacenter space in Northern Virginia;
- Over 22,000 square feet of Turn-Key Datacenter space in San Francisco; and
- Approximately 33,000 square feet of Turn-Key Datacenter space in the Dallas metro area.
"In response to the increased demand for our Turn-Key product, we are accelerating our development plans in these key markets and expect construction to be completed by mid-year," said Michael Foust, CEO of Digital Realty Trust. "Our redevelopment program is an essential component of our growth strategy. We are also focused on optimizing space in existing operating facilities to meet local demand for highly improved datacenter space while maximizing the returns to our shareholders," Mr. Foust added.
In addition to the abovementioned projects, the Company also announced construction plans to add datacenter space to the following strategic properties:
- 600 Federal Street in downtown Chicago;
- 210 North Tucker Boulevard in St. Louis, MO;
- 113 North Meyers in Charlotte, NC;
- 2323 Bryan Street in downtown Dallas, TX; and
- The Quannapowitt Parkway property in the Boston, MA metro area.
"As the largest wholesale datacenter provider, we are committed to meeting our customers' ongoing datacenter requirements in each of our markets. Our strong balance sheet enables us to fund our development program to meet the demand for our Turn-Key product," said A. William Stein, CFO and Chief Investment Officer of Digital Realty Trust. "Our financial strength and ability to access capital are significant advantages for customers seeking space in our global portfolio."
Digital Realty Trust Turn-Key Datacenter facilities provide state-of-the-art environments for supporting mission critical infrastructure, with advanced cooling, power, redundancy, and sustainability features to ensure that critical applications are available while optimizing energy efficiency. Digital Realty Trust's Turn-Key Datacenters are scalable from hundreds of kilowatts of IT Load to megawatts of IT load and are located in markets throughout North America and Europe. Each Turn-Key Datacenter facility is physically secure and features a state-of-the-art power and cooling architecture that has been optimized for green operation. Every Turn-Key Datacenter is built using the Company's proprietary POD Architecture(R) and uses metered power to ensure that clients pay only for the power that they use.
For more information about space availability at any of Digital Realty Trust's properties, visit http://www.digitalrealtytrust.com/datacenter-locator.aspx.
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 future development of Turn-Key Datacenter(R) space, completion of construction and construction of additional datacenter space. These risks and uncertainties include the impact of the ongoing deterioration in global economic, credit and market conditions; downturn of local economic conditions in our geographic markets; 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 (including risks relating to decreasing real estate valuations and impairment charges); our dependence upon significant tenants; bankruptcy or insolvency of a major tenant 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; 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 facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; our inability 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 such 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; our inability to successfully develop 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; and 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. 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.