Activity in Singapore results in data center leases signed totaling over 80,000 square feet
SAN FRANCISCO, July 12, 2011 /PRNewswire via COMTEX/ --
The Company signed leases during the quarter ended June 30, 2011 totaling approximately $42.9 million of annualized GAAP rental revenue, including $1.5 million of colocation revenue. Leases signed totaled approximately 289,000 square feet, consisting of over 205,000 square feet of Turn-Key Datacenter® space leased at an average annual GAAP rental rate of approximately $193.00 per square foot, and approximately 84,000 square feet of non-technical space leased at an average annual GAAP rental rate of approximately $20.00 per square foot.
"In our strongest performance since the third quarter of 2008, we saw very good demand from customers for our Turn-Key Datacenter solution in all three international regions," said Michael F. Foust, Chief Executive Officer of Digital Realty Trust. "In the U.S., we signed leases totaling over 116,000 square feet of Turn-Key Datacenter space at an average annual GAAP rental rate of approximately $176.00 per square foot. In Europe, we signed leases totaling nearly 9,000 square feet of Turn-Key Datacenter space at an average annual GAAP rental rate of approximately $270.00 per square foot.
"We are particularly pleased with the pace of activity at our new Jurong data center facility in Singapore, where we signed leases for Turn-Key Datacenter space totaling over 80,000 square feet at an average annual GAAP rental rate of approximately $210.00 per square foot."
For the quarter ended June 30, 2011, the Company commenced leases totaling approximately $29.0 million of annualized GAAP rental revenue, including approximately $0.8 million of colocation revenue. Commenced leases totaled approximately 476,000 square feet, consisting of over 123,000 square feet of Turn-Key Datacenter space leased at an average annual GAAP rental rate of approximately $146.00 per square foot, approximately 225,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of approximately $25.00 per square foot, and nearly 98,000 square feet of non-technical space leased at an average annual GAAP rental rate of approximately $21.00 per square foot. Also included in commencements were datacenter master leases, previously announced as signed in the first quarter of 2011, which totaled nearly 30,000 square feet leased at an average annual GAAP rental rate of approximately $85.00 per square foot.
The Company's customer driven data center solutions provide flexible, state-of-the-art environments for supporting mission critical infrastructure and are located in 28 markets throughout North America, Europe and Singapore. Each Turn-Key Datacenter features advanced cooling, power, redundancy and security to ensure the highest levels of reliability. Turn-Key Datacenters are scalable from hundreds of kilowatts of IT load to megawatts of IT load. Powered Base Buildings are improved shell facilities designed for customers that prefer to build out and operate the data center using their own personnel and resources. Each Powered Base Building solution is pre-provisioned with power, planning permissions, and fiber connectivity, enabling customers to commence data center construction immediately. In addition, each Powered Base Building is designed to meet the two leading green building standards, LEED in the U.S. and BREEAM in Europe.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. focuses on delivering customer driven data center solutions by providing secure, reliable and cost effective facilities that meet each customer's unique data center needs. 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 16.9 million square feet as of April 28, 2011, including 2.2 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 rent from leases that have been signed but have not yet commenced and other contracted rent to be received in future periods, and leasing demand. 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; risks associated with using debt to fund our business activities, including re-financing and interest rate risks, our failure to repay debt when due, adverse changes in our credit ratings 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 integrate and 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; losses in excess of our insurance coverage; changes in foreign laws and regulations, including those related to taxation and real estate ownership and operation; and changes in local, state and federal regulatory requirements, including 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, 2010 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2011. 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 M. Garibaldi|
|Chief Financial Officer and||Vice President, Investor Relations and|
|Chief Investment Officer||Corporate Marketing|
|Digital Realty Trust, Inc.||Digital Realty Trust, Inc.|
|+1 (415) 738-6500||+1 (415) 738-6500|
SOURCE Digital Realty Trust, Inc.