Press release from PR Newswire
Digital Realty Trust Completes Leasing of First Phase of Development at Datacenter Park - Dallas
Tuesday, August 23, 2011
Digital Realty Trust Completes Leasing of First Phase of Development at Datacenter Park - Dallas07:30 EDT Tuesday, August 23, 2011Strong Leasing Momentum at Datacenter Park - Dallas as Digital Realty Trust Continues Redevelopment of the 69-Acre PropertySAN FRANCISCO, Aug. 23, 2011 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global wholesale datacenter provider, has fully leased the first redeveloped building, 1232 Alma Road, at its Datacenter Park - Dallas property located in Richardson, Texas. The 105,000 square foot building was built out as a multi-tenant data center facility with 13 MW of IT capacity. It features a diversified customer base from a wide range of industry sectors, including financial services, consumer products, colocation and managed services as well as international network providers. "Datacenter Park - Dallas is the premier data center property for customers in Texas because of the quality of the data center space we are building out, the volume of affordable power, the available fiber connectivity and many other factors that make it an ideal home for companies seeking data center space," said Brent Behrman, Senior Vice President at Digital Realty Trust. "Our redevelopment of the property is delivering first-class data center space to a market that has very strong demand from companies based in North Texas as well as from national and multinational corporations with operations in the Dallas-Fort Worth area. Regardless of size, our customers can expect the same high level of quality, reliability, security and attention at all of our facilities."Digital Realty Trust is underway on the second phase of development and leasing at the seven-building campus, which totals 796,000 square feet. The 69-acre property, located in the heart of Texas' Telecom Corridor®, also contains several developable land sites and a private substation with 40 MW of immediate availability that is expandable to up to 125 MW.About Digital Realty Trust, Inc.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 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 97 properties, excluding two properties held as investments in unconsolidated joint ventures, comprise approximately 16.9 million square feet as of July 28, 2011, including 2.2 million square feet of space held for redevelopment. Digital Realty Trust's portfolio is located in 29 markets throughout Europe, North America, Singapore and Australia. 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 StatementThis 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 redevelopment and leasing activities at Datacenter Park ? Dallas and demand for datacenter space in the market. 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 Reports on Form 10-Q for the quarters ended March 31, 2011 and June 30, 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 SteinPamela M. GaribaldiChief Financial Officer andVice President, Investor Relations and Chief Investment OfficerCorporate MarketingDigital Realty Trust, Inc.Digital Realty Trust, Inc.+1 (415) 738-6500+1 (415) 738-6500SOURCE Digital Realty Trust, Inc.