SAN FRANCISCO, May 9, 2012 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center solutions, hosted a groundbreaking ceremony this morning to celebrate the start of construction on a major expansion of its Northern Virginia data center campus in Ashburn, Virginia. The new two-story 214,000 square-foot world-class data center facility is the fourth building to be developed at the campus in recent years by Digital Realty. The event was attended by Senator Mark Herring, Loudoun CountyBoard of Supervisors Vice Chairman Janet Clarke and Supervisor Shawn Williams, Digital Realty executives and project team managers.
"The Loudoun County Department of Economic Development and members of the planning, zoning, and building and development teams have worked very hard to bring this investment to Loudoun County," said Loudoun County Department of Economic Development Assistant Director Buddy Rizer.
The new facility is designed to meet the technical requirements of companies seeking best-in-class data center solutions. The building has the capacity to accommodate up to ten 1.125 megawatt data center PODs, featuring airside economization that will enable customers to achieve among the lowest PUEs in the industry.
"This project presents an exciting opportunity for us to offer customers in the Northern Virginia market our full suite of data center solutions in a state of the art facility designed for flexibility, reliability and efficiency," said Dave Caron, Senior Vice President, Portfolio Management at Digital Realty. "From a highly customized build-to-suit data center to our move-in ready suites with dedicated, redundant power and cooling infrastructure, and Powered Base Building solutions, we believe that this facility will be able to accommodate a large majority of the data center requirements from customers seeking space in this highly strategic market."
The building shell and core is scheduled to be completed by the end of 2012 followed by the first three 1.125 megawatt, purpose-built data centers, available in the second quarter of 2013.
"Our strategy is to have inventory readily available for customers in our top data center markets," said Michael F. Foust, Chief Executive Officer for Digital Realty. "With our existing facilities nearly fully leased within the Ashburn campus, we expect the timely delivery of this new space a year from now to satisfy customers' data center requirements for the foreseeable future."
About Digital Realty
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'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's 102 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 19.1 million square feet as of April 26, 2012, including 2.2 million square feet of space held for redevelopment. Digital Realty's portfolio is located in 31 markets throughout Europe, North America, Singapore and Australia. Additional information about Digital Realty is included in the Company Overview, which is available on the Investors page of Digital Realty's website at http://www.digitalrealty.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 our development plans in Northern Virginia, expected timing, size and IT capacity of the development, our strategy regarding inventory, and supply and demand in the Northern Virginia market. These risks and uncertainties include, among others, the following: the impact of the recent deterioration in global economic, credit and market conditions, including the downgrade of the U.S. government's credit rating; 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 or businesses; 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, 2011 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2012. 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 M. Garibaldi
Chief Financial Officer and
Vice President, Investor Relations and
Chief Investment Officer
Digital Realty Trust, Inc.
Digital Realty Trust, Inc.
+1 (415) 738-6500
+1 (415) 738-6500
SOURCE Digital Realty Trust, Inc.