Development Project in Chandler, Arizona Will Deliver Turn-Key Datacenter(R) and Powered Base Building(R) Space to Supply Constrained Market
SAN FRANCISCO, Jan. 19, 2011 /PRNewswire via COMTEX/ --
Digital Realty Trust, Inc. (NYSE:DLR, news, filings), a global wholesale datacenter provider, is expanding its data center facility at 2121 S. Price Road in Chandler, Arizona, adding approximately 226,000 rentable square feet of data center space and 13 megawatts of power to meet customer demand in the Phoenix market. The existing facility totals over 293,000 square feet and was 97% occupied as of September 30, 2010. When construction is complete, the expanded facility is expected to feature more than 31 megawatts of total power.
Utilizing a design that wraps around the current building, the newly constructed data center space will leverage the existing infrastructure to support the footprint and operations of the current facility and expansion space. This design will also significantly increase delivery of new datacenter space, meeting customer speed-to-market requirements. Construction is currently underway on the expanded building shell with the first three 1125 kilowatt Turn-Key Datacenters scheduled to be delivered in the third quarter of 2011.
"Phoenix is a significant datacenter market with strong demand from many companies that want to locate their IT infrastructure in a location relatively free of natural disasters, with significant fiber connectivity and competitively priced electricity. The local power utility, Salt River Project (SRP), provides green options and has a long history of maintaining robust, stable, and low cost power," said Brent Behrman, Senior Vice President, Global Sales, at Digital Realty Trust. "Phoenix is a very important market for Digital Realty Trust. Our investment in this property underscores our commitment to the Phoenix area, where we have established a substantial operating platform for supporting our customers in Arizona."
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. enables customers to deliver critical business applications by providing secure, reliable and cost effective data center facilities. Digital Realty Trust's customers include domestic and international companies across multiple industry verticals ranging from information technology and Internet enterprises, to manufacturing and financial services. Digital Realty Trust's 96 properties, excluding two properties held as investments in unconsolidated joint ventures, comprise approximately 16.8 million square feet as of December 9, 2010, including 2.3 million square feet of space held for redevelopment. Digital Realty Trust's portfolio is located in 28 markets throughout Europe, North America and Singapore. 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 the expansion of additional data center space at the Chandler, Arizona facility, expected square footage and total power upon completion of such expansion, expected time for completion of such expansion and supply and customer demand in the Phoenix market. 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 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 reporting 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 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 Reports on Form 10-Q for the quarters ended March 31, 2010, June 30, 2010 and September 30, 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.
|For Additional Information:|
|A. William Stein||Pamela A. Matthews|
|Chief Financial Officer and||Director of Investor Relations|
|Chief Investment Officer||Digital Realty Trust|
|Digital Realty Trust||+1 415-738-6532|
SOURCE Digital Realty Trust, Inc.