X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

RESTON, VA-Denver-based CoreSite has preleased 10,000 square feet atits 285,000-square-foot data center here. The wholesale data centerspace has been licensed to a large IT service provider, according toDavid Dunn, CoreSite’s SVP of business development. CoreSite’s facility is located at 121000 Sunrise Valley Dr. The tenant was represented by CurtHolcomb and Jeff Groh of Jones Lang LaSalle.

Data centers are an under-the-radar real estate asset class that hasheld its own in the recession, in large part due to theever-increasing demand for computing power by companies.

A new report by industry player Digital Realty Trust finds that datacenters will continue to expand this year and into 2011. According tothe study, 83% of respondents are planning data center expansions inthe next 12 to 24 months, while 36% have definite plans to make thoseexpansions during 2010.

Not surprisingly, providers of such space are expanding in tandem tothe demand. CoreSite, as one example, plans to open its eleventh facility this quarter and has two more planned as part of a $350 million expansion.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.