Digital Realty Completes Major Improvements To 210 N. Tucker Data Center Property In St. Louis; Announces Further Expansion Of Colocation Offering
SAN FRANCISCO, May 1, 2012 /PRNewswire/ -- Digital Realty Trust, Inc. (NYSE: DLR), a leading global provider of data center solutions, has completed a major improvement project at its 210 N. Tucker data center property. Improvements to the facility include increased power available to the site, enhanced technical infrastructure and expanded available data center space.
The centerpiece of the improvements, which were initiated in early 2010, is the addition of 16 MW of new electrical power, which effectively quadruples the power available to the facility. Also included were upgrades to the HVAC plant, electrical plant, building security system and staffing, elevator systems, management office, common areas and other infrastructure. Concurrent with these improvements, Digital Realty also completed the construction of new colocation data center space within the building, which is now available for immediate occupancy. This new colocation space provides a flexible data center solution in St. Louis that is easily scalable, from a single cabinet to megawatts of power, and any increment in between.
Digital Realty has signed a long term lease agreement with Netelligent Corporation for the recently completed data center space at 210 N. Tucker. Netelligent is a leading provider of managed and Cloud based services. "This newly expanded space will allow Netelligent to grow our service portfolio beyond hosted voice, Infrastructure and e-mail solutions. The demand for innovative cloud services like virtual desktop infrastructure (VDI) and disaster recovery have grown beyond proof of concept and is now main stream," says Steve Busselman Netelligent's Sales and Marketing Director.
"This has been one of the most significant construction projects in St. Louis because of the size of the investment as well as the long term benefit we believe it brings to the local economy. 210 N. Tucker is now one of the most desirable data center properties in the Midwest, providing world-class infrastructure in the heart of St. Louis," said Glenn Benoist, Vice President, Portfolio Management at Digital Realty. "The property's power, space and enhanced technical attributes make it ideal for local, national and international companies that need a home for their computing and networking systems in the Midwestern United States."
"Digital Realty's investment underscores our region's strength as an IT market," said St. Louis Regional Chamber and Growth Association (RCGA) Vice President for Business Recruitment James Alexander. "The recent Market Street Services comprehensive report 'Regional Cluster Analysis for the St. Louis Region' indicates Greater St. Louis has become increasingly attractive to companies that require IT talent and resources. In addition to our IT talent base, our region has a low cost of living relative to other major metro areas, excellent public transportation and a vibrant downtown."
Digital Realty will continue its enhancements in the coming months with the development of an additional 10,000 square feet of space in the property and 600 kW of available power. The projected completion date is the third quarter of 2012.
Located in the heart of downtown St. Louis, 210 N. Tucker is an 18-story building that offers over 300,000 square feet of space and the design flexibility that customers need to support their unique data center requirements. Powered from Ameren UE's underground power grid with multiple feeds and back-up generation on-site, 210 N. Tucker is a carrier-neutral facility serviced by multiple fiber providers that offers the best array of connectivity options in St. Louis. 210 N. Tucker is also connected to the Digital Realty-owned facility at 900 Walnut via 400 strands of dark fiber.
About Netelligent Netelligent's vision is to make technology invisible to the business. Netelligent allows clients to focus on their core business by offloading mature IT services like voice, video, storage and server virtualization. By diluting capital cost that is traditionally associated with investments in IT infrastructure, the business can reclaim its ability to be agile and innovative as opposed to reacting or responding to market conditions. Netelligent is ready to help in determining what model of IT consumption best benefits each client organization, be that procurement for in-house deployment, network management or complete outsourcing to the cloud. Netelligent was founded in 2003 and is located in Chesterfield, Missouri. More information about Netelligent can be found through their website at http://www.netelligent.com.
About Digital Realty Digital Realty 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 102 properties, excluding three properties held as investments in unconsolidated joint ventures, comprise approximately 19.1 million square feet as of April 26, 2012, including 2.2 million square feet of space held for redevelopment. Digital Realty's portfolio is located in 31 markets throughout Europe, North America, Singapore 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 Statement This 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 construction plans at 210 N. Tucker, expected size, timing and power capacity of the completed construction project, benefits of the construction project on the local St. Louis economy and the new lease with Netelligent. 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. 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.