Press release from PR Newswire
Digital Realty And Logicworks Enter Lease Agreement For Turn-Key Flex(SM) Space In New Jersey
Monday, November 26, 2012
Digital Realty And Logicworks Enter Lease Agreement For Turn-Key Flex(SM) Space In New Jersey07:00 EST Monday, November 26, 2012Cloud and SaaS Continue to Drive Data Center DemandSAN FRANCISCO, Nov. 26, 2012 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center solutions, announced today that it signed a new Turn-Key FlexSM lease with Logicworks, a leading provider of cloud computing and managed hosting services headquartered in New York City. The lease commenced in the third quarter and is for space at Digital Realty's data center facility in Piscataway, New Jersey."Our clients count on us to deliver highly available and compliant public, private, and hybrid cloud hosting solutions which means our datacenter footprint needs to be of the highest possible standard," said Kenneth Ziegler, Chief Executive Officer of Logicworks. "For our latest domestic expansion, Digital Realty proved to have the best combination of top-tier wholesale space and the business flexibility to work with our time-to-market and ongoing consumption needs.""The dramatic growth in SaaS and digital content is placing high demand on cloud service providers like Logicworks," said Michael F. Foust, Chief Executive Officer at Digital Realty. "We see the shift to cloud architectures continuing to increase demand for flexible, world-class data center solutions that can accommodate growing companies such as Logicworks. We are very pleased to be partnering with them as their business continues to expand.""Our clients often cite Logicworks' service offerings as part of their solutions to end-customers, and having a strong datacenter partner like Digital Realty is consistent with the level of quality they expect about the foundation of our infrastructure," added Ziegler.Digital Realty's Turn-Key Flex solution is a modular approach to delivering secure, enterprise quality data center space to meet customers' just-in-time requirements. Designed to provide maximum flexibility, reliability and efficiency, each Turn-Key Flex facility comes fully commissioned with its own dedicated electrical and mechanical infrastructure. Utilizing Digital Realty's proprietary POD Architecture® and extensive supply chain, Digital Realty's next generation Turn-Key Flex data center solution is designed for the future and ready today.About LogicworksLogicworks provides cloud computing and managed hosting to some of the world's most respected brands including Dow Jones, NBC, Lincoln Center, Orion Health, and 1-800-Flowers.com. Logicworks specializes in Private, Public and Hybrid Cloud Solutions for SaaS, Media, eCommerce, Mobile, Healthcare, and Financial services companies. Logicworks also offers a full suite of Compliance Solutions and Managed Database Services. Contact Logicworks at 866-FOR-LOGIC or visit www.logicworks.net.About Digital RealtyDigital 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 110 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 21.2 million square feet as of October 26, 2012, including 2.2 million square feet of space held for redevelopment. Digital Realty's portfolio is located in 32 markets throughout Europe, North America, Asia 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 StatementThis press release contains forward-looking statements which are based on Digital Realty Trust, Inc.'s 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 new lease agreement with Logicworks and data center demand drivers. 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 its geographic markets; decreases in information technology spending, including as a result of economic slowdowns or recession; adverse economic or real estate developments in its industry or the industry sectors that it sells to (including risks relating to decreasing real estate valuations and impairment charges); its 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; its failure to obtain necessary debt and equity financing; increased interest rates and operating costs; risks associated with using debt to fund its business activities, including re-financing and interest rate risks, its failure to repay debt when due, adverse changes in its credit ratings or its breach of covenants or other terms contained in its loan facilities and agreements; financial market fluctuations; changes in foreign currency exchange rates; its inability to manage its growth effectively; difficulty acquiring or operating properties in foreign jurisdictions; its failure to successfully integrate and operate acquired or redeveloped properties or businesses; risks related to joint venture investments, including as a result of its 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; its inability to successfully develop and lease new properties and space held for redevelopment; difficulties in identifying properties to acquire and completing acquisitions; its inability to acquire off-market properties; its inability to comply with the rules and regulations applicable to reporting companies; its failure to maintain its status as a REIT; possible adverse changes to tax laws; restrictions on its ability to engage in certain business activities; environmental uncertainties and risks related to natural disasters; losses in excess of its 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 Digital Realty Trust, Inc. with the U.S. Securities and Exchange Commission, including Digital Realty Trust, Inc.'s Annual Report on Form 10-K for the year ended December 31, 2011 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012. Digital Realty Trust, Inc. 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 Corporate MarketingDigital Realty Trust, Inc. Digital Realty Trust, Inc.+1 (415) 738-6500 +1 (415) 738-6500 SOURCE Digital Realty Trust, Inc.