WASHINGTON, Oct. 27, 2016 (GLOBE NEWSWIRE) -- DuPont Fabros Technology, Inc. (DFT), a leading owner, developer, operator and manager of enterprise-class, carrier-neutral, large multi-tenant wholesale data centers announced today that it has purchased a building and land previously used for printing the Toronto Star newspaper in Vaughan, Ontario for a purchase price of CAD $54,250,000.
This acquisition will be used for DFT’s first data center, TOR1, in the Greater Toronto Area. We will use our new design 4.0 which gives customers options to pick their own power density and resiliency. We estimate that this data center will have approximately 23 computer rooms when fully built out and provide critical load of up to 46 megawatts (“MW”). Phase I of TOR1 will consist of 12 computer rooms totaling approximately 125,000 computer room square feet with critical load of up to 24 MW. The company anticipates service beginning in the third quarter of 2017.
Christopher P. Eldredge, President and CEO, stated “We look forward to expanding our business into the Toronto market. We believe that there is robust demand for first-class data center services in Toronto. As we have discussed previously, entry into this market is a key aspect of our strategic plan. Now that the purchase is complete, our pre-leasing efforts will target both existing and new customers who may need our premier wholesale data center services in Toronto.”
About DuPont Fabros Technology, Inc.
DuPont Fabros Technology Inc. (DFT) is a leading owner, developer, operator and manager of enterprise-class, carrier-neutral, large multi-tenanted wholesale data centers. The Company’s facilities are designed to offer highly specialized, efficient, and safe computing environments in a low-cost operating model. The Company’s customers outsource their mission-critical applications and include national and international enterprises across numerous industries, such as technology, Internet content providers, media, communications, cloud-based, healthcare, and financial services. The Company’s 11 data centers are located in three major U.S. markets, which total 3.3 million gross square feet and 286 megawatts of available critical load to power the servers and computing equipment of its customers. The Company is in the process of expanding into two new markets. DuPont Fabros Technology is a real estate investment trust (REIT) headquartered in Washington, D.C. For more information, please visit www.dft.com.
Certain statements contained in this press release may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to the closing of the proposed transaction and the planned development and operation of the facility. The matters described in these forward-looking statements include expectations regarding future events, results and trends and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. We face many risks that could cause our actual performance to differ materially from the results contemplated by our forward-looking statements, including, without limitation, the risks commonly associated with the acquisition of development sites (including closing conditions included in the purchase and sale agreement for the site), construction and development of new facilities (including delays and/or cost increases associated with the completion of new developments), and risks relating to obtaining required permits and compliance with permitting, zoning, land-use and environmental requirements. The periodic reports that we file with the Securities and Exchange Commission, including the annual report on Form 10-K for the year ended December 31, 2015 and the quarterly reports for the quarters ended March 31, 2016 and June 30, 2016, contain detailed descriptions of these and many other risks to which we are subject. These reports are available on our website at www.dft.com. Because of the risks described above and other unknown risks, our actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by our forward-looking statements. The information set forth in this news release represents our expectations and intentions only as of the date of this press release. We assume no responsibility to issue updates to the contents of this press release.