CoreSite Secures Data Center Construction Approval in Silicon Valley

Rhea-AI Summary

CoreSite, a subsidiary of American Tower (NYSE: AMT), has received approval from Santa Clara’s Planning Commission to build the SV9 data center, featuring 34 megawatts of capacity and 200,000 square feet. This new facility will enhance CoreSite's Silicon Valley presence, joining existing data centers (SV3 to SV8). The campus serves major tech firms by improving application performance and reducing costs through a robust ecosystem of cloud providers, including AWS and Google Cloud. Construction is expected to finish in 2023, with preleasing available now.

Positive

• Secured Planning Commission approval for SV9 data center.
• Expands CoreSite's footprint in Silicon Valley, complementing existing facilities.
• Improves access to major cloud providers, enhancing application performance.
• Construction completion expected in 2023, with preleasing opportunities.

Negative

• None.

DENVER--(BUSINESS WIRE)-- CoreSite, a leading hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT) (“American Tower”), today announced it has secured approval from Santa Clara’s Planning Commission to commence building its 34 critical megawatt, 200,000 square foot data center – known as SV9 – along with a substation on the site at 2905 Stender Way. This new purpose-built data center will expand the company’s Silicon Valley market footprint, complementing its existing SV3, SV4, SV5, SV6, SV7 and SV8 data centers.

CoreSite’s Silicon Valley data center campus is the IT environment of choice for a multitude of industry leading technology companies and digital platforms. The company provides a rich ecosystem of networks and direct access to leading public and private cloud providers – including AWS, Alibaba, Google Cloud and Microsoft Azure – to improve application performance, reduce total cost of ownership and expedite time to market.

“Our Silicon Valley campus uniquely provides a variety of colocation options and native cloud onramps in the heart of one of the largest concentrations of internet and technology companies in the world,” stated Maile Kaiser, SVP, Sales and Marketing. “With more than 205 cloud, network and IT service providers available within our data centers, as well as continual investment toward in-market campus expansions, CoreSite is equipped to meet the infrastructure needs of tomorrow, today.”

In addition to providing a rich and diverse ecosystem for companies to interoperate, CoreSite’s extensive Silicon Valley campus enables customers to:

• Create outstanding digital experiences
• Lower latency and improve performance
• Reduce overall TCO associated with power and cooling while maintaining uptime
• Improve application performance by interoperating workloads
• Increase security by limiting points of network access
• Gain lights-out capabilities, 24/7 security, field operations, remote hands and real-time provisioning via the MyCoreSite service delivery platform

“Our approach to data center design and construction is purposeful,” said Rob Dean, CoreSite’s VP of Design and Construction. “CoreSite’s campus model is driven by customer demand and requirements. This Silicon Valley market expansion is further testament that leading enterprises and service integrators require modern and efficient data centers that can provide native access to the leading cloud providers and a comprehensive interconnection ecosystem to ensure an exceptional customer experience.”

Construction of SV9 is expected to be complete in 2023, and preleasing is available now.

Additional Information

• Learn More About CoreSite's New SV9 Facility
• CoreSite Future-Proofs Digital Business
• Case Study: Enabling Real-Time Collaboration on Large Digital Files for the Media and Entertainment Industry

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.

© 2022, CoreSite, L.L.C. All Rights Reserved

View source version on businesswire.com: https://www.businesswire.com/news/home/20220228006218/en/

CoreSite

Megan Ruszkowski

Vice President of Marketing

720-446-2014

Megan.Ruszkowski@CoreSite.com

Source: CoreSite

FAQ

What new project did American Tower's subsidiary announce in 2023?

CoreSite announced the approval to build the SV9 data center in Silicon Valley.

What is the capacity of the new SV9 data center?

The SV9 data center will have a capacity of 34 megawatts.

When is the construction of the SV9 data center expected to be completed?

The construction of the SV9 data center is expected to be completed in 2023.

How does the SV9 facility benefit customers?

SV9 will provide improved application performance and reduced total cost of ownership.

What major cloud providers will be accessible from the SV9 data center?

Customers will have access to AWS, Google Cloud, and Microsoft Azure from the SV9 data center.