DENVER, CO - January 20, 2011 – CoreSite Realty Corporation (NYSE:COR, news, filings), a national provider of powerful, network-rich data centers, today announced that the City of Santa Clara has approved CoreSite's application for entitlements to increase the size of CoreSite's data center campus at Coronado Drive and Stender Way in Santa Clara, California. The City's action entitles CoreSite to increase the density of its campus from 229,600 square feet to 496,250 square feet. The development rights will enable CoreSite to construct three new buildings in addition to CoreSite's existing 50,000 square-foot data center at 2901 Coronado Drive. The entitlements also allow for construction of a proposed electrical substation on the data center campus.
Included in the plan is CoreSite's data center at 2972 Stender Way, where CoreSite is currently constructing 101,000 square feet of data center space, doubling the size of the initial 50,400 square-foot entitlement. As was previously announced, CoreSite expects to complete the building in the third quarter of 2011. The 2972 Stender data center is being built to LEED Gold standards, featuring energy-efficient initiatives such as 97%-efficient UPS systems, air-side economization, and variable frequency driven (VFD) cooling units.
"Our Santa Clara data center campus demonstrates CoreSite's commitment to energy-efficient data center design," commented Billie Haggard, CoreSite SVP of Data Centers. "We'd like to thank the City of Santa Clara for sharing our vision of providing important infrastructure supporting economic growth in the region in a responsible, energy-efficient manner. The City's staff worked closely with our development team to approve our project plans while ensuring that the development is completed consistently with the City's environmental standards."
The planned buildings join CoreSite's three existing data centers in Silicon Valley, where CoreSite currently owns approximately 365,000 square feet of operating space. Full build out of the Santa Clara campus would bring CoreSite's Bay Area portfolio to more than 860,000 square feet supporting regional technology needs.
"The entitlement by the City of Santa Clara solidifies the development plan CoreSite presented when we went public. We're pleased to be on schedule with the project and to deploy the proceeds from our initial public offering as we outlined to the market," said Thomas M. Ray, President and Chief Executive Officer of CoreSite. "CoreSite remains focused on growing its national portfolio of intelligently designed, high-quality data centers, served by our integrated operating platform. We look forward to meeting the broad range of data center needs in the region, from single cabinets to private data centers, all served with abundant power, strong interconnection opportunity, and excellent customer support for data center and peering needs."
CoreSite Realty Corporation (NYSE: COR) delivers powerful, network-rich data centers that optimize, secure and interconnect the mission-critical IT assets of the world's top organizations. 600+ customers, including Global 1000 enterprises, cloud providers, financial firms, and Government agencies, choose CoreSite for reliability, service and expertise in delivering customized, flexible data center solutions. CoreSite offers private data centers and suites, cage-to-cabinet colocation, and interconnection services, such as Any2, CoreSite's Internet exchange. The company's portfolio comprises more than two million square feet, including space held for redevelopment and development, and provides access to over 200 network service providers via 11 data centers in seven key U.S. economic centers. Obtain more information at www.CoreSite.com.
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