SAN FRANCISCO, Sept. 17/PRNewswire-FirstCall/ --Digital Realty Trust, Inc. (NYSE: DLR), the world's largest wholesale datacenter provider, announced today that it has acquired a sixty percent joint venture interest in a redevelopment project located in Richardson, Texas.
Formerly known as Collins Technology Park, the new Digital Realty Trust Datacenter Park - Dallas consists of seven buildings totaling approximately 797,000 square feet, ranging in size from 15,000 square feet to 250,000 square feet. The 69-acre property also contains several developable land sites and a private substation with 40 MW of immediate availability, which is expandable to up to 125 MW.
"The addition of this property to our redevelopment portfolio illustrates Digital Realty Trust's ability to identify and execute on unique acquisition opportunities around the country. By entering into this joint venture, we've added substantial additional inventory to satisfy our customers' ongoing demand for Turn-Key Datacenter( (R)), Powered Base Building( (R) ) and build-to-suit space in a market where we are essentially fully leased at our existing sites," commented Scott Peterson, Senior Vice President of Acquisitions for Digital Realty Trust. "We believe that we will be able to realize significant economies of scale though our existing operating platform and achieve attractive risk adjusted returns while offering flexibility of product within one property that will greatly expand the addressable customer market." Chris Kenney, Vice President of Acquisitions for Digital Realty Trust, added, "This transaction is a great example of our ability to maintain relationships with owners and sellers of strategic data center properties in top markets. We have worked with our new partner off and on over the last 18 months, which ultimately resulted in the joint venture transaction we are pleased to announce today."
The park is capable of supporting Powered Base Building, Turn-Key Datacenter as well as ground up Build-to-Suit solutions. The Company plans to redevelop the property in phases. Phase I of the project will focus on completing Powered Base Building improvements to the first 106,000 square foot building and building out six Turn-Key Datacenter PODs. Each POD will contain approximately 10,000 square feet of raised floor and deliver 1125kW of critical load. The timing and build out of the subsequent phases will be subject to market conditions.
"This acquisition positions Digital Realty Trust as the largest wholesale datacenter provider in the Dallas/Fort Worth market," said Brent Behrman, Vice President of Global Sales for Digital Realty Trust. "With its availability of power, fiber and our team of datacenter experts, the Richardson campus will be the premier datacenter facility in the Southwest and the epicenter of the Dallas Technology community. Utilizing our design and construction team and POD Architecture((R) )program, we expect to have Turn-Key Datacenter product available in early 2010."
Digital Realty Trust Turn-Key Datacenter((R) )facilities provide state-of-the-art environments for supporting mission critical infrastructure, with advanced cooling, power, redundancy, and sustainability features to ensure that critical applications are available while optimizing energy efficiency. Digital Realty Trust's Turn-Key Datacenters((R)) are scalable from hundreds of kilowatts of IT Load to megawatts of IT load and are located in markets throughout North America and Europe. Each Turn-Key Datacenter((R) )facility is physically secure and features a state-of-the-art power and cooling architecture that has been optimized for green operation. Every Turn-Key Datacenter((R)) is built using the company's proprietary POD Architecture((R) )and uses metered power to ensure that clients pay only for the power that they use.
About Digital Realty Trust, Inc.
Digital Realty Trust owns, acquires, redevelops, develops and manages technology-related real estate. The Company is focused on providing Turn-Key Datacenter((R)) and Powered Base Building((R)) datacenter solutions for domestic and international tenants across a variety of industry verticals ranging from information technology and internet enterprises, to manufacturing and financial services. Digital Realty Trust's 76 properties, excluding one property held as an investment in an unconsolidated joint venture, contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 13.8 million square feet as of September 17, 2009, including 1.9 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 27 markets throughout Europe and North America. For additional information, please visit Digital Realty Trust's website at http://www.digitalrealtytrust.com.
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 Company's development plans for the property. 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, 2009 and the Company's subsequent quarterly reports on Form 10-Q. 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 marks of Digital Realty Trust.
For Additional Information:
A. William Stein Pamela A. Matthews
Chief Financial Officer and Director of Investor Relations
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. +1 415-738-6500
SOURCE Digital Realty Trust, Inc.