CoreSite Announces Major Expansions in New York and Denver Data Center Campuses to Meet Growing Capacity, Power Demands

Rhea-AI Summary

CoreSite (AMT) Expands New York and Denver Data Center Campuses, Adding 685,000 Square Feet of Space and 75 Critical Megawatts of Capacity

Positive

• Expansion to meet growing capacity and power demands of public and private cloud providers, enterprises, network and service providers
• Strategic data center campuses in New York and Denver to enhance application performance and reduce total cost of ownership
• Anticipated completion of NY3 construction in Q4 2024

Negative

• None.

-- New Facilities to Add 685,000 Square Feet of Data Center Space to Company Portfolio --

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced the expansion of its New York and Denver strategic data center campuses to meet growing capacity and power demands of public and private cloud providers, enterprises, network and service providers. CoreSite’s latest New York campus data center – known as NY3 – received final permitting to complete construction of the 85,000-square-foot facility and 15 critical megawatts (CMW) of capacity. CoreSite has also received conceptual approval for a three-building data center campus development of approximately 600,000 square feet and 60 CMW of capacity in the Denver market.

New York Market Expansion

CoreSite’s new purpose-built NY3 data center will expand the company’s New York market footprint and complement its existing NY1 (32 Avenue of the Americas, Manhattan, New York) and NY2 (2 Emerson Lane, Secaucus, New Jersey) data centers. Located adjacent to NY2, the NY3 facility will serve as an ideal environment for digital platforms with a rich ecosystem of networks and private and public cloud providers – including AWS, Google Cloud, Microsoft Azure and Oracle Cloud. As one of the best-connected and most scalable data center campuses on the Eastern Seaboard, the New York data centers help enterprises enhance application performance, reduce total cost of ownership and accelerate time to market.

Denver Market Expansion

Located in Denver, the three-building data center development is anticipated to have an on-site substation and expand CoreSite’s Denver market footprint, which today includes DE1 (910 15th Street, Denver) and DE2 (639 East 18th Avenue, Denver). The new campus will be constructed on 15 acres, and the first of three facilities will be built with three floors and offer 18 CMW of capacity.

“Our approach to data center design and construction incorporates best practices from ideation to execution,” said Brian Warren, CoreSite’s SVP of Development and Product Engineering. “CoreSite’s campus model is driven by customer demand and requirements that have seen a surge with the increased adoption of artificial intelligence and other high-density, high performance computing applications. The New York and Denver market expansions exemplify the need for purpose-built, modern and efficient data centers that can provide native access to the leading cloud providers and a comprehensive interconnection ecosystem.”

Construction of NY3 is expected to be completed in Q4 2024.

Related Resources:

• Read about CoreSite's New York Data Center Campus and CoreSite's Denver Data Center Campus
• Get more details in the NY3 Brochure

About CoreSite

CoreSite, an American Tower company (NYSE: AMT), provides hybrid IT solutions that empower enterprises, cloud, network, and IT service providers to monetize and future-proof their digital business. Our highly interconnected data center campuses offer a native digital supply chain featuring direct cloud onramps to enable our customers to build customized hybrid IT infrastructure and accelerate digital transformation. For more than 20 years, CoreSite’s team of technical experts has partnered with customers to optimize operations, elevate customer experience, dynamically scale, and leverage data to gain competitive edge. For more information, visit CoreSite.com and follow us on LinkedIn and Twitter.

Forward-Looking Statements

This press release contains statements about future events and expectations, or “forward-looking statements,” all of which are inherently uncertain. We have based those forward-looking statements on management’s current expectations and assumptions and not on historical facts. These forward-looking statements involve a number of risks and uncertainties. For important factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the information contained in Item 1A of American Tower’s Form 10-K for the year ended December 31, 2022, as updated in its Form 10-Q for the nine months ended September 30, 2023, each under the caption “Risk Factors” and in other filings American Tower makes with the Securities and Exchange Commission. Neither we nor American Tower undertake any obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231212088698/en/

CoreSite Contact

Megan Ruszkowski

Vice President of Marketing and Sales Development

720-446-2014

Megan.Ruszkowski@CoreSite.com

Source: CoreSite

FAQ

What is the ticker symbol for CoreSite?

The ticker symbol for CoreSite is AMT.

What is the purpose of the NY3 data center?

The purpose of the NY3 data center is to expand CoreSite's New York market footprint and complement its existing NY1 and NY2 data centers.

What is the expected completion date for NY3 construction?

Construction of NY3 is expected to be completed in Q4 2024.

What is the capacity of the three-building data center development in Denver?

The three-building data center development in Denver is anticipated to have 60 CMW of capacity.

Who is CoreSite's SVP of Development and Product Engineering?

CoreSite's SVP of Development and Product Engineering is Brian Warren.