Digital Realty Trust Nears Completion of Major Facility Upgrades at Data Center Property in Wakefield, Mass.
SAN FRANCISCO, June 24, 2011 /PRNewswire/ – Digital Realty Trust, Inc. (NYSE: DLR), a leading global wholesale data center provider, is completing the first phase of major improvements at its 200 Quannapowitt Parkway data center property in Wakefield, Massachusetts. The upgrades are the result of a significant investment by Digital Realty Trust to convert the 200 Quannapowitt property into a state-of-the-art data center facility that meets the technical requirements of large enterprises seeking wholesale data center space in a world-class facility. Digital Realty Trust has already secured an anchor tenant at the facility for data center space to support its mission critical computing systems.
200 Quannapowitt Parkway is one of two buildings at Digital Realty Trust’s data center complex on Route 128 in Wakefield, Mass, previously known as the Comverse Technology Buildings. The renovation includes the construction of six Turn-Key DatacenterÃ‚® PODs, each featuring approximately 6,000 square feet of raised floor space and 1 MW of IT load. The enhancements also include new HVAC systems and electrical infrastructure to support advanced data center operations. Jones Lang LaSalle is the exclusive leasing agent for the Quannapowitt Buildings.
“Boston is a very strong datacenter market, especially along the Route 128 Corridor, which is the spine of New England’s technology industry. The improvements at 200 Quannapowitt will make it one of the most desirable datacenter facilities in the region. As we approach the completion of the first phase of the project, we are very pleased to be able to provide the Boston enterprise customer with a high quality data center solution to support their IT requirements,” said Dave Caron, Senior Vice President, Portfolio Management at Digital Realty Trust. “The renovated 200 Quannapowitt data center facility also offers very attractive utility rates. Our relationships with local utility companies and volume purchase agreements enable us to provide customers with very favorable utility rates, which can significantly lower their operating costs.”
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. enables customers to deliver critical business applications by providing secure, reliable and cost effective datacenter 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 16.9 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. Additional information about Digital Realty Trust is included in the Company Overview, which is available on the Investors page of 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 construction and expected timing for completion of major improvements at our 200 Quannapowitt property. 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 U.S. 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.
For Additional Information: --------------------------- A. William Stein Pamela Matthews Garibaldi Vice President, Investor Chief Financial Officer and 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.