New property will add over 25,000 square feet of Turn-Key Datacenter space to supply-constrained Santa Clara market
SAN FRANCISCO, May 10, 2010 /PRNewswire via COMTEX/ --Digital Realty Trust, Inc. (NYSE:DLR, news, filings), the world's largest wholesale datacenter provider, announced today that it acquired a 40,300 square foot shell building located at 1725 Comstock Street in Santa Clara, California, next to several of the Company's existing datacenter facilities. The building can support the development of three 1,125 kW Turn-Key Datacenter(R) PODs totaling approximately 25,500 square feet of raised floor datacenter space.
"This acquisition is consistent with our strategy of adding additional redevelopment inventory to markets where we see strong demand for our Turn-Key Datacenter product," commented Scott Peterson, Senior Vice President of Acquisitions for Digital Realty Trust. "The building is located contiguous to several of our facilities in Santa Clara, giving us and our customers the benefit of significant operating economies of scale, including the ability to deliver our Turn-Key product quickly and cost effectively."
The Company plans to build out and complete all three Turn-Key Datacenter PODs by year-end 2010.
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.
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 85 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 15.1 million rentable square feet as of May 10, 2010, including 1.9 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.
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 the development of additional datacenter space and expected time for completion of such development. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions; current 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 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 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; potential 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 U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2009 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2010. 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 Pamela A. Matthews Chief Financial Officer and Director of Investor Relations Chief Investment Officer Digital Realty Trust, Inc. Digital Realty Trust, Inc. +1 415-738-6500 +1 415-738-6500
SOURCE Digital Realty Trust, Inc.