Release Details

SAN FRANCISCO, Nov. 2 /PRNewswire-FirstCall/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading owner and manager of corporate datacenters and Internet gateways, today announced the acquisition of a partial interest in the primary Internet gateway for the Pacific Northwest market located in downtown Seattle, Washington and fee simple interests in datacenter facilities located in Miami, Florida, Waltham, Massachusetts and Tempe, Arizona. The total purchase price paid for these four acquisitions was approximately $79.1 million.

"The addition to our portfolio of the Seattle Internet gateway facility, locally known as the Westin Building, represents a very strategic initial acquisition for us in this tier one market. It not only expands our national footprint into the Pacific Northwest, it also adds to our existing portfolio of mission critical Internet gateway facilities in Chicago, Dallas, San Francisco, Los Angeles, Miami, Phoenix and Charlotte," said Michael F. Foust, Chief Executive Officer of Digital Realty Trust. The 2001 Sixth Avenue property serves as the primary hub for Internet traffic in the Pacific Northwest and is the premier facility for corporate datacenter applications in the Seattle market. The 34-story tower consists of 389,000 square feet and is 90% leased. Approximately 185,000 square feet is built out as technical space and supports a variety of telecom functions including colocation space and meet-me-rooms.

The second property, located at 2300 NW 89th Place in Miami, Florida, was acquired in a sale leaseback transaction, which included a new 10-year lease with Peer 1 Network Enterprises, Inc. for 100% of the property.

The third acquisition is a 30,400 square foot single-story building that was redeveloped as a mission critical datacenter in 1998. The property, located at 600 Winter Street in Waltham, Massachusetts, is 100% leased to Savvis.

The fourth acquisition consists of a vacant warehouse facility totaling approximately 55,000 square feet of shell space, which can accommodate approximately 30,000 square feet of raised floor. The property is located at 2055 East Technology Circle in Tempe, Arizona's ASU Research Park. Digital Realty Trust has begun the master planning process to redevelop the ground floor into highly-improved, turn-key datacenter space. This acquisition adds to Digital Realty Trust's portfolio of competitively positioned buildings with access to power for re-development in strategic markets.

"2055 East Technology Circle in Tempe currently has space available to support mission critical corporate datacenters, offering corporate customers in the Southwest the choice of move-in ready Turn-Key Datacenter space or Build-to-Suit space for custom datacenter projects. We look forward to working with customers in that market where first-class technology real estate is increasingly hard to find," said Foust. "Customers choose Digital Realty Trust because of our expertise in the datacenter field, our flexible approach to selling space and structuring relationships with tenants, and the levels of control that we can provide to clients. These three factors set Digital Realty Trust apart from others in the industry and offer a unique value proposition to companies pursuing datacenter projects."

Digital Realty Trust's Design & Construction team offers customers a full range of design, consulting, construction and management services for custom corporate datacenters. For build-to-suit Design & Construction projects, Digital Realty Trust can work with customers to establish a datacenter in an existing Digital Realty Trust facility or can collaborate with customers to identify and acquire a building that meets their needs and then convert that structure into an advanced datacenter facility.

Digital Realty Trust's Turn-Key Datacenter Facilities are move-in ready, physically secure facilities with the power and cooling capabilities to support critical enterprise applications. Digital Realty Trust offers scalability from one hundred square feet to over one hundred thousand square feet in state-of-the-art facilities with true carrier and managed service provider neutrality and metered power. Digital Realty Trust's facilities are fully managed by its world-class operations and engineering teams to support 24/7 mission-critical applications.

To learn more about available space in the Tempe facility and other Digital Realty Trust properties, contact Digital Realty Trust's sales team by visiting www.digitalrealtytrust.com.

About Digital Realty Trust, Inc.

Digital Realty Trust, Inc. owns, acquires, repositions and manages technology-related real estate. Digital Realty Trust's 56 properties contain applications and operations critical to the day-to-day operations of technology industry tenants and corporate enterprise datacenter tenants. Comprising approximately 11.2 million rentable square feet, including 1.3 million square feet of space held for redevelopment, Digital Realty Trust's portfolio is located in 24 markets throughout North America and Europe. For additional information, please visit the Digital Realty Trust's website at http://www.digitalrealtytrust.com.

This press release contains forward-looking statements based on current expectations, forecasts and assumptions. These current expectations, forecasts and assumptions involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties for Digital Realty Trust include adverse economic or real estate developments in our markets or the technology industry; general economic conditions; defaults on or non-renewal of leases by tenants; increased interest rates and operating costs; failure to obtain necessary outside financing; decreased rental rates or increased vacancy rates; difficulties in identifying properties to acquire and completing acquisitions; failure to successfully operate acquired properties and operations; our relatively limited operating history in Europe; failure of acquired properties to perform as expected; failure to deliver secure facilities or the power required by our tenants; failure to maintain the Company's status as a REIT; environmental uncertainties and risks related to natural disasters; financial market fluctuations; changes in foreign currency exchange rates; and 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 Digital Realty Trust with the Securities and Exchange Commission. Digital Realty Trust 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
    Chief Financial Officer and          Investor/Analyst Information
    Chief Investment Officer             Digital Realty Trust, Inc.
    Digital Realty Trust, Inc.           415-738-6500
    415-738-6500

SOURCE Digital Realty Trust, Inc.