Digital Realty Announces Relocation Of Global Headquarters To Austin, TX

Rhea-AI Summary

Digital Realty (NYSE: DLR) announced its relocation of corporate headquarters from San Francisco to Austin, Texas, enhancing its Texas presence and ability to serve a global customer base. The company has over 30 data centers in Texas, covering 4 million square feet and providing over 100 megawatts of capacity. The move capitalizes on Texas's central location, affordable living, and a skilled workforce, aiming for long-term growth. Digital Realty also expanded colocation capacity in Dallas and plans to power 70% of its Texas portfolio with renewable energy by mid-2021.

Positive

• Relocation enhances Digital Realty's strategic presence in Texas.
• Ownership of 30+ data centers in Texas, totaling over 4 million square feet.
• Expansion of colocation capacity at 2323 Bryan Street, Dallas.
• 70% of Texas portfolio set to be powered by renewable energy by mid-2021.

Negative

• None.

SAN FRANCISCO, Jan. 14, 2021 /PRNewswire/ -- Digital Realty (NYSE: DLR), a leading global provider of data center, colocation and interconnection solutions, announced today it will relocate its corporate headquarters from San Francisco, California to Austin, Texas, strengthening its existing presence in Texas and strategically positioning the company to better serve its increasingly global customer base.  Digital Realty will maintain a significant presence in the San Francisco Bay Area as one of the world's leading technology hubs, while the relocation of the corporate headquarters to Austin reflects the company's established track record of success and growth in Texas, along with its extensive investment in the state in terms of capital as well as talent. 

Digital Realty has deep roots in the state of Texas, dating back to early 2002 when its predecessor acquired 2323 Bryan Street, a major regional connectivity hub in downtown Dallas.  For the better part of two decades, Digital Realty has been at the forefront of data center innovation, enabling global service providers, multinational enterprises and small businesses alike to achieve various iterations of digital transformation.  Today, Digital Realty owns more than 30 data centers across the state of Texas, encompassing more than four million square feet and over 100 megawatts of customer capacity.  In addition, nearly 20% of the company's North American employee base is located in Texas. 

"The central location, affordable cost of living, highly educated workforce and supportive business climate have helped make Texas an epicenter for business activity and technology growth," said Digital Realty Chief Executive Officer A. William Stein.  "As we continue to make strategic investments to best position Digital Realty for long-term growth, we are confident our expansion in Texas will help us meet the needs of our more than 4,000 global customers, while continuing to deliver value for our stakeholders, employees and the communities we serve around the world." 

Digital Realty recently expanded upon its initial investment in Texas at 2323 Bryan Street in Dallas, bringing online additional colocation capacity to meet the area's growing networking needs.  The regional interconnection hub is home to more than 75 carriers, and the new colocation capacity provides an ideal location to deploy Network Hub solutions on PlatformDIGITAL®, with availability to expand global cloud and connectivity options via Metro Connect, Service Exchange and dedicated cloud connections such as IBM Direct Link.  Digital Realty has also invested significantly to bring net new renewable energy online in Texas, including long-term wind energy and solar agreements.  Over 70% of Digital Realty's Texas portfolio will be powered by renewable energy once these projects reach commercial operation by mid-2021. 

"We are excited that Digital Realty has chosen Texas as the new home for their corporate headquarters, and I thank them for their expanded investment in the Lone Star State," said Governor Greg Abbott.  "Digital Realty joins other global technology leaders and more than 50 Fortune 500 companies now headquartered in Texas.  We are seeing increasing investments from innovative businesses thanks to our young, growing, and educated workforce, and our pro-growth economic policies that help job-creating businesses to thrive.  I thank Digital Realty for strengthening their presence in Texas, and I will continue to promote common-sense policies that create a welcoming business climate and bring even more jobs to the Lone Star State." 

About Digital Realty
Digital Realty supports the world's leading enterprises and service providers by delivering the full spectrum of data center, colocation and interconnection solutions.  PlatformDIGITAL®, the company's global data center platform, provides customers a trusted foundation and proven Pervasive Datacenter Architecture PDx™ solution methodology for scaling digital business and efficiently managing data gravity challenges.  Digital Realty's global data center footprint gives customers access to the connected communities that matter to them with more than 280 facilities in 49 metros across 24 countries on six continents.  To learn more about Digital Realty, please visit digitalrealty.com or follow us on LinkedIn and Twitter.  

Media Inquiries
John Christiansen / Reze Wong / Celia de Pentheny O'Kelly
Sard Verbinnen & Co
+1 (415) 618-8750
DigitalRealty-SVC@SARDVERB.com

Forward-Looking Statements
This press release contains forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially, including statements related to the relocation of our headquarters, our expansion in Texas and our sustainability efforts.  For a list and description of such risks and uncertainties, see the company's reports and other filings with the U.S. Securities and Exchange Commission.  The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 

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SOURCE Digital Realty

FAQ

Why did Digital Realty relocate its headquarters to Austin, Texas?

Digital Realty moved its headquarters to Austin to strengthen its presence in Texas and better serve its global customer base.

How many data centers does Digital Realty own in Texas?

Digital Realty owns over 30 data centers in Texas.

What percentage of Digital Realty's Texas portfolio will use renewable energy?

Digital Realty aims for 70% of its Texas portfolio to be powered by renewable energy by mid-2021.

What is the significance of the expansion at 2323 Bryan Street, Dallas?

The expansion adds colocation capacity to meet growing networking needs and supports Digital Realty's service offerings.