SAN FRANCISCO, March 29 /PRNewswire-FirstCall/ -- Digital Realty Trust,
Inc. (NYSE: DLR), a leading owner and manager of corporate datacenters and
Internet gateways, announced today the acquisition of 43881, 43831 and 43791
Devin Shafron Drive, previously known as Loudoun Exchange, located in Ashburn,
Virginia. The property consists of three single-story buildings totaling
432,000 square feet and is approximately 40% leased. The purchase price was
$62.5 million.
"With this acquisition we now have six properties consisting of ten
buildings totaling approximately 770,000 square feet in Northern Virginia. It
is one of the top markets for datacenter space in the country with strong
demand coming from government, Internet enterprise, system integrators and
other corporate customers," commented Michael Foust, CEO of Digital Realty
Trust. "The property was purpose built for datacenter use and includes over
167,000 square feet of space leased to two global tenants, a major aeronautics
corporation and a leading Internet enterprise company. The remaining
265,000 square feet will be included in our value added inventory of space
held for redevelopment, which has the potential to support over 160,000 square
feet of highly improved datacenter space."
"We are well underway with our redevelopment and master planning of the
property. We will implement the first phase of our plan, delivering over
2.2MW of UPS load in new Turn-Key Datacenter(TM) space later in 2007 to serve
our current customer demand. In addition to the Turn-Key Datacenter(TM)
space, we are also excited about our ability to offer a large, build-to-suit
single tenant datacenter solution," commented Chris Crosby, SVP of Sales and
Technical Services. "This property provides our customers with the full
breadth of the Digital Realty Trust offering: from Turn-Key Datacenter(TM) to
single tenant build-to-suit datacenter."
The state and local officials have made a focused effort to support
investment in datacenter operations in the Northern Virginia market. "This
investment shows the continuing interest from the financial sector in
Virginia," said Patrick O. Gottschalk, Virginia Secretary of Commerce and
Trade. "Infusing capital into the market will allow other companies to locate
their datacenter operations in the Commonwealth. I welcome Digital Realty
Trust to Virginia as they continue to expand their holdings in high-tech,
high-value properties."
"The infrastructure, the fiber, the physical space and most importantly
the people with the knowledge and skill to operate datacenters are well
established in Loudoun County," says Kirby Bowers, County Administrator for
Loudoun County Government. "Access to the mission critical services that
these datacenters offer and their proximity to major Internet switching points
are key differentiators of having operations in Loudoun County. This
significant investment is part of a growing cluster of more than a dozen such
datacenters in Loudoun County, beginning in the late nineties, establishing
Loudoun as one of the world's premier datacenter markets."
Other properties acquired by the Digital Realty Trust in the Northern
Virginia market include a 71,000 square foot fully leased facility in Herndon;
a 95,000 square foot fully leased facility also in Ashburn; a 135,000 square
foot facility in Sterling that was added to its inventory of space held for
redevelopment and subsequently 100% leased in the first quarter of 2007;
19,000 square feet of datacenter space in Reston; and 17,000 square feet of
datacenter space in Vienna.
About Digital Realty Trust, Inc.
Digital Realty Trust, Inc. owns, acquires, repositions and manages
technology-related real estate. Digital Realty Trust's 63 properties contain
applications and operations critical to the day-to-day operations of
technology industry tenants and corporate enterprise data center tenants.
Comprising approximately 12.0 million rentable square feet, including
1.9 million square feet of space held for redevelopment, Digital Realty
Trust's portfolio is located in 25 markets throughout North America and
Europe. For additional information, please visit the Digital Realty Trust's
website at www.digitalrealtytrust.com.
Safe Harbor Statement
This press release contains forward-looking statements, including related
to Digital Realty Trust's intent to deliver over 2.2MW of UPS load in new
Turn-Key Datacenter(TM) space later in 2007, which are based on current
expectations, forecasts and assumptions that involve risks and uncertainties
that could cause actual outcomes and results to differ materially. These
risks and uncertainties include adverse economic or real estate developments
in the Company's markets or the technology industry; general economic
conditions; defaults on or non-renewal of leases by tenants; increased
interest rates and operating costs; inability to manage domestic and
international growth effectively; failure to obtain necessary outside
financing; decreased rental rates or increased vacancy rates; difficulties in
identifying properties to acquire and completing acquisitions at acceptable
return levels; failure to successfully operate acquired properties and
operations, failure of acquired properties to perform as expected; failure to
successfully redevelop properties acquired for such purposes; failure to
maintain the Company's status as a REIT; environmental uncertainties and risks
related to natural disasters; financial market fluctuations; changes in
foreign currency exchange rates; risks of operating in foreign markets; and
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 United States
Securities and Exchange Commission, including the Company's annual report on
Form 10-K for the year ended December 31, 2006. 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 Stein Pamela A. Matthews
Chief Financial Officer and Investor/Analyst Information
Chief Investment Officer Digital Realty Trust, Inc.
Digital Realty Trust, Inc. (415) 738-6532
(650) 738-6500
Chris Crosby
Business Contact
Digital Realty Trust, Inc.
(214) 231-2491
SOURCE Digital Realty Trust, Inc.
03/29/2007
/CONTACT: A. William Stein, Chief Financial Officer and Chief Investment
Officer, +1-650-738-6500, or Pamela A. Matthews, Investor/Analyst Information,
+1-415-738-6532, or Chris Crosby, Business Contact, +1-214-231-2491, all of
Digital Realty Trust, Inc./
/Web site: http://www.digitalrealtytrust.com /
(DLR)
CO: Digital Realty Trust, Inc.
ST: California
IN: CPR FIN ITE NET RLT
SU: TNM
TD-DP
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8574 03/29/2007 18:07 EDT http://www.prnewswire.com