These redevelopment projects will take place at Digital Realty Trust facilities in Northern New Jersey, Boston, Philadelphia, Charlotte, Atlanta, Chicago, Austin, Dallas, Los Angeles and San Francisco. Digital Realty's SVP of sales and technical services Chris Crosby says demand for the company's data center space has been "strong" in each of the 10 cities, "which makes the timing of these redevelopment projects ideal."
The vast majority of the space involved in the project--283,000 sf--is comprised of its 3 Corporate Place facility in Piscataway, NJ. The campus is fully entitled for 12 pods of 12,000 sf. Each pod has the ability to be a standalone data center or part of a shared infrastructure system. The initial pod has a target completion date of Q4 2006.
Crosby says demand for its data center space has been strong in because its facilities include outstanding electrical power--"an increasingly rare commodity in the technology real estate market"--and because the company gives its tenants "a tremendous amount of control over their environment," including security levels, the kind of equipment they install and facility.
Digital Realty Trust is one of only a few companies that owns and manages corporate data centers and Internet gateways exclusively. The company owns 10 million sf in 49 properties. The data center expansion effort utilizes about 25% of space the company is holding for redevelopment. A company official declined comment on the cost of the data center expansion and the lease rates it would expect to achieve for the space.
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