Digital Realty Expands Silicon Valley Connected Campus
SAN FRANCISCO, Oct. 5, 2017 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today the expansion of its Silicon Valley Connected Campus with a six-megawatt facility at 3205 Alfred Street in Santa Clara, CA. Digital Realty expects to invest approximately $75 million in the new facility, which is scheduled for delivery in the first quarter of 2018.
Digital Realty's existing Silicon Valley portfolio consists of 17 properties totaling over two million square feet with 99 megawatts of IT load, strategically located on major fiber routes in close proximity to three Silicon Valley Power sub-stations. Digital Realty's existing holdings in Silicon Valley are almost fully leased. The new facility at 3205 Alfred Street offers two suites totaling six megawatts of critical IT load in support of customer growth requirements within the supply-constrained Santa Clara metro area.
"Demand for data center space in Silicon Valley remains robust," said industry analyst Kelly Morgan of 451 Research. "This new addition to Digital Realty's Silicon Valley Connected Campus builds on the foundation the company has established, giving enterprises, network operators and service providers the opportunity and the expertise they require to privately interconnect with critical ecosystems like the cloud."
Digital Realty Chief Executive Officer A. William Stein added, "The expansion of our Silicon Valley Connected Campus demonstrates our commitment to supporting customer growth. We are pursuing LEED gold certification for 3205 Alfred Street, building upon our commitment to sustainability. The new facility offers a comprehensive set of data center solutions, from single-cabinet colocation and interconnection requirements, all the way up to multi-megawatt deployments. This flexibility helps reduce complexity and accelerate business growth by meeting customers' needs for space, power and connectivity."
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About Digital Realty
Digital Realty supports the data center and colocation strategies of more than 2,300 firms across its secure, network-rich portfolio of data centers located throughout North America, Europe, Asia and Australia. Digital Realty's clients include domestic and international companies of all sizes, ranging from financial services, cloud and information technology services, to manufacturing, energy, gaming, life sciences and consumer products.
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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 Alfred Street facility, our sustainability efforts and our Silicon Valley Connected Campus. These risks and uncertainties include, among others, the following: the impact of current global economic, credit and market conditions; current local economic conditions in the metropolitan areas in which we operate; 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; 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 developed properties or businesses; the suitability of our properties and data center infrastructure, delays or disruptions in connectivity, failure of our physical and information security infrastructure or services or availability of power; risks related to joint venture investments, including as a result of our lack of control of such investments; delays or unexpected costs in development of properties; decreased rental rates, increased operating costs or increased vacancy rates; increased competition or available supply of data center space; our inability to successfully develop and lease new properties and development space; difficulties in identifying properties to acquire and completing acquisitions; our inability to acquire off-market properties; the impact of the United Kingdom's referendum on withdrawal from the European Union on global financial markets and our business; our inability to comply with the rules and regulations applicable to reporting companies; 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, 2016 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2017 and June 30, 2017. 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.
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SOURCE Digital Realty
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