CoreSite Expands Data Center Footprint in Silicon Valley and Denver Campuses to Meet Growing Capacity, Power Demands

Rhea-AI Summary

CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation, is expanding its Silicon Valley and Denver data center campuses. In Silicon Valley, CoreSite is adding its ninth data center, SV9, which will have 240,000 square feet of space and offer 34 megawatts of IT load. In Denver, the company is adding 3,420 square feet and 500 kilowatts of IT load to its downtown data center. The expansions aim to meet the growing digital infrastructure requirements of cloud providers, enterprises, and service providers.

Positive

• CoreSite is expanding its Silicon Valley and Denver data center campuses to meet growing infrastructure demands. The new SV9 data center in Silicon Valley will have 240,000 square feet of space and offer 34 megawatts of IT load. The expansion in Denver will add 3,420 square feet and 500 kilowatts of IT load to an existing data center. These expansions will allow CoreSite to better serve cloud providers, enterprises, and service providers.

Negative

• None.

– Company Achieves Key Milestones in Development of Its 240,000 Square-Foot, 34-Megawatt Data Center in Santa Clara

– Downtown Denver Facility to Offer Additional 3,420 Square Feet and 500 Kilowatts

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced the continued expansion of its Silicon Valley and Denver data center campuses to meet the dynamic digital infrastructure requirements of public and private cloud providers, enterprises, network and service providers. As a leading interconnection provider, CoreSite is adding its ninth data center in Santa Clara, California. With the addition of the new 240,000-square-foot, purpose-built data center – known as SV9 – the company’s newest Silicon Valley data center campus will have 1.179 million total square feet of data center space. Located at 2915 Stender Way, SV9 will offer 34 megawatts of IT load with a new utility substation onsite. CoreSite has also completed the design and permitting process to add 3,420 square feet and 500 kilowatts of IT load to its downtown Denver (DE1) data center at 910 15th Street, one of the most interconnected data centers in the Denver metro region.

CoreSite’s SV9 240,000-square-foot data center, located at 2915 Stender Way, is under construction at the Santa Clara campus. The structural steel and concrete pours are now complete. (Photo: Business Wire)

Silicon Valley Market Expansion

The CoreSite Silicon Valley footprint – spanning Milpitas, San Jose and Santa Clara – is currently comprised of eight operational data centers and offers one of the largest retail and wholesale campuses in the Bay Area with a natively dense network and robust cloud ecosystem.

The massive scale of the Santa Clara campus is coupled with the availability of native cloud onramps in the heart of some of the largest concentrations of internet and technology companies in the world. These qualities uniquely enable CoreSite to support a broad range of colocation use cases from enterprises and digital platforms. Through the Open Cloud Exchange^® (OCX), CoreSite’s leading software-defined networking platform, customers utilize the superior interconnection needed to reach new markets, rapidly scale on-demand, reduce total cost of operation and accelerate IT modernization. The OCX is uniquely suited to meet the most demanding compute needs of digital platforms with a rich ecosystem of 205 cloud, network and IT service providers available.

SV9 Construction Milestones Achieved

Construction of SV9 has progressed since securing building permits in 2022. CoreSite has completed building the structural steel and concrete pours for the facility. Despite experiencing historically rainy and windy weather conditions in the Santa Clara area, the company remains on schedule for completion of SV9 in 2024 with its first phase ready for occupancy in Q1 2024.

Denver Market

Strategically located in downtown Denver, CoreSite’s DE1 and DE2 data center facilities deliver two network-rich data centers and the region’s largest peering exchange. CoreSite sits at the nexus of where the networks meet in the Rocky Mountain region and is home to a rich interconnected ecosystem of nearly 150 organizations comprised of cloud, network and IT service providers.

CoreSite’s DE1 facility is an ideal destination for any performance-sensitive requirements and is a marketing-leading network-dense asset for connectivity needs, including native cloud onramps, i.e., direct connection, to the top cloud providers. The expansion at DE1 will increase the total square footage in CoreSite’s Denver campus to 37,420.

“With expansions in both our Silicon Valley and Denver markets, CoreSite is delivering on our long-term strategy to meet the ever-increasing data center capacity demands and interconnection requirements of our valued customers,” said Juan Font, President and CEO, CoreSite and SVP of U.S. Tower. “Our strong financial backing by Fortune 375 wireless infrastructure leader, American Tower, and private equity partner, Stonepeak, means we have the direct access to capital required to grow with our customers to anticipate and build solutions for their future needs.”

Construction of SV9 is expected to be complete in 2024, preleasing is available now. CoreSite is pre-leasing the DE1 expansion, which will be available for customers in 2H 2023.

Additional Resources

• SV9 Pre-Lease Facility Brochure
• Silicon Valley Market Brochure
• Denver Market Brochure
• VIDEO: Native Cloud Onramp Explained – What is Cloud Direct Connection and How It Can Support Businesses Hybrid IT Strategy?
• Stonepeak Upsizes Investment in American Tower’s Data Center Business

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 have 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, 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/20230523005451/en/

Megan Ruszkowski

Vice President of Marketing and Sales Development

720-446-2014

Megan.Ruszkowski@CoreSite.com

Source: CoreSite

FAQ

What is CoreSite expanding?

CoreSite is expanding its Silicon Valley and Denver data center campuses.

What are the specifications of the new SV9 data center in Silicon Valley?

The SV9 data center will have 240,000 square feet of space and offer 34 megawatts of IT load.

What is the purpose of the expansions?

The expansions aim to meet the growing digital infrastructure requirements of cloud providers, enterprises, and service providers.