CoreSite Expands in Miami, Completes Acquisition of State-of-the-Art Data Center

Rhea-AI Summary

CoreSite, a subsidiary of American Tower (NYSE: AMT), has acquired a 103,000-square-foot data center (MI2) in Doral, Florida, expanding its Miami market presence. The new facility, designed to withstand a Category 5 hurricane, will connect with CoreSite's existing MI1 data center, enhancing IT infrastructure options for businesses. This expansion aims to support growth in the Miami market, providing scalable connectivity to North and South America. CoreSite's total Miami campus will now encompass nearly 150,000 square feet, featuring advanced interconnection options to accelerate digital transformation for clients.

Positive

• Acquisition of a 103,000-square-foot data center enhances Miami market presence.
• New facility built to withstand Category 5 hurricane, ensuring operational resilience.
• Integration with MI1 data center increases IT infrastructure options and connectivity.
• Expanded campus of nearly 150,000 square feet supports businesses' digital transformation.

Negative

• None.

Purpose-Built Facility Adds Immediate Capacity in Growing Market

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced its expansion in the Miami market with the acquisition of a modern, purpose-built 103,000-square-foot data center (MI2) located at 2100 NW 84^th Avenue in Doral, Florida. CoreSite also owns and operates a 43,000-square-foot data center (MI1) in downtown Miami located at 2115 NW 22nd Street.

The MI2 Miami data center is a freestanding facility in America’s Gateway Park built to withstand a Category 5 hurricane with a 185-mph-gust-rated roof. As part of the integration process, CoreSite will be connecting MI2 to the company’s MI1 data center, which will offer customers enhanced access to a more robust ecosystem in addition to the fiber providers currently available in the facility. With the augmentation of MI2 to CoreSite’s Miami data center campus, businesses will have more IT infrastructure options and immediate capacity to enter into, or expand their footprint, in the growing Miami market.

“Miami serves as a key conduit for businesses to manage and grow operations in both North and South America. This expansion in the CoreSite Miami data center campus will provide the hybrid IT solution enterprises turn to for secure and scalable connectivity to South America from the U.S,” said Juan Font, President and CEO of CoreSite and SVP of U.S. Tower. “We are excited to build on our proven record of operational excellence in the greater Miami area where we have been operating since 2006, offering optimal customer experience, critical security and business continuity support and access to cloud and network providers.”

The MI2 data center features critical building infrastructure with all major systems designed to be concurrently maintainable, while CoreSite’s MI1 is strategically located downtown and provides ultra-low latency to greater Miami and South American network points of presences (POPs) — creating an ideal interconnection site for content caching.

CoreSite’s expanded Miami data center campus will have a combined square footage of nearly 150,000 to help propel global digital transformation for businesses across all industries. In addition, customers will be able to leverage the Open Cloud Exchange® , CoreSite’s leading interconnection platform that provides superior connectivity and a robust and interconnected partner ecosystem needed to reach new markets, rapidly scale on-demand, reduce total cost of operation and accelerate IT modernization.

The MI2 acquisition is part of CoreSite’s ongoing effort to add large scale, purpose-built capacity and richer connectivity options in the company’s existing markets, as well as strengthen its Southeastern regional footprint following the addition of two data centers in Atlanta and one in Orlando earlier in 2022. The integration of these assets into the CoreSite data center portfolio enhances CoreSite’s offering which now includes 28 data centers across 10 markets, 450+ networks, 23 native cloud onramps and 35,000+ interconnections.

Related Resources:

• Read more about CoreSite's Miami data center campus
• See why businesses partner with CoreSite
• Learn more about CoreSite's data center markets

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 may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect CoreSite’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, CoreSite disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause CoreSite’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in American Tower’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by American Tower from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220927005403/en/

CoreSite Contact

Megan Ruszkowski

Vice President of Marketing

720-446-2014

Megan.Ruszkowski@CoreSite.com

Source: CoreSite

FAQ

What is the purpose of CoreSite's acquisition of the Doral data center?

The acquisition aims to expand CoreSite's capacity in the Miami market, providing enhanced IT infrastructure and connectivity options for businesses.

How big is the new MI2 data center acquired by CoreSite?

The MI2 data center is a 103,000-square-foot facility located in Doral, Florida.

What is the strategic importance of this acquisition for American Tower (AMT)?

This acquisition strengthens American Tower's position in the growing Miami market and enhances its hybrid IT service offerings.

When did CoreSite acquire the MI2 data center?

CoreSite announced the acquisition of the MI2 data center in a press release dated September 27, 2022.

What features does the MI2 data center offer?

The MI2 data center is designed to withstand a Category 5 hurricane and features advanced connectivity, essential for business continuity and digital transformation.