Iron Mountain Signs Leases for Six Megawatts with Fortune 100 Technology Customer at AZP-2 Data Center in Phoenix

Rhea-AI Summary

Iron Mountain announced the signing of two leases with a major U.S. technology company at its AZP-2 data center in Phoenix, Arizona. The first lease is for a one megawatt expansion, commencing in Q3 2021, while the second lease is for five megawatts, expected to start in Q4 2021. AZP-2 offers 100% renewable energy and is designed for flexibility, with total IT capacity projected at 48 megawatts at full build-out. The Phoenix campus is expected to support over 100 megawatts of IT load, enhancing Iron Mountain's data center offerings in a low-risk area for natural disasters.

Positive

• Secured two significant leases with a Fortune 100 technology customer, boosting revenues.
• Expansion into a one megawatt and a five megawatt deployment enhances growth potential.
• AZP-2 data center powered entirely by renewable energy, appealing to environmentally conscious clients.
• Facility designed for scalability and flexibility, meeting complex customer requirements.

Negative

• None.

Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, today announced that it has signed two leases with an existing U.S. based Fortune 100 technology customer, at its AZP-2 data center in Phoenix, Arizona. The first lease represents a one megawatt expansion, which is expected to commence in the third quarter of 2021. The second lease was for a five megawatt deployment, which is expected to commence in the fourth quarter of 2021. Iron Mountain’s data center solutions met all of the customer’s requirements, including scalable capacity, network proximity to other deployments, and a design that provided flexibility and reliability.

AZP-2 is a hyperscale-ready data center powered by 100% renewable energy. The three-story purpose-built facility will span more than 530,000 gross square feet, and is expected to deliver 48 megawatts of total IT capacity at full build out, with campus connectivity to the existing 47 megawatts operating at AZP-1 in Phoenix and AZS-1 in Scottsdale, leveraging the network density of the existing ecosystem.

Including land held for future development, the 40-acre Phoenix campus will support more than 100 megawatts of IT load when fully developed. The highly secure campus offers Iron Mountain data center customers access to reliable and energy efficient data center capacity in one of the lowest risk U.S. metros for natural disasters. The addition of this hyperscale lease complements Iron Mountain’s Phoenix data center campus that currently includes a wide range of core retail enterprise and hyperscale colocation customers.

“We are pleased to expand our support of one of the world's leading technology companies,” said Rick Crutchley, Vice President & General Manager, North America at Iron Mountain Data Centers. “We expect to continue our balanced leasing strategy, and will pursue the right hyperscale opportunities that complement our core retail colocation ecosystem.”

Additional highlights of the Phoenix data center campus include:

• Hyper-scale ready: provides the ability to scale in a campus environment with unmatched security and reliability
• Efficient hybrid-IT enablement: centralized access to hundreds of customers, clouds, carriers, and other IT services providers, making hybrid IT efficient, cost-effective and secure
• Network density: carrier-neutral campus with 24 native network providers, access to diverse meet-me rooms, and the ability to connect to multiple public-cloud on-ramps
• Support for multiple use cases: hyper-scale cloud node, hybrid-IT colocation, local production IT, local/regional business continuity/disaster recovery, and consolidation/migration
• Energy efficiency: powered by 100% renewable energy
• Operational excellence: 100% uptime SLA
• Industry-leading compliance:
  • SOC 2 Type II, SOC 3
  • ISO 27001, 50001, and 140001
  • HIPAA
  • PCI-DSS
  • FISMA High/NIST SP 800-53

Iron Mountain's global data center platform consists of 15 operational facilities across 13 markets and three continents. Including leasable capacity, land, and buildings held for future development, Iron Mountain's data center platform can support more than 375 megawatts of IT capacity at full build-out.

For more information on Iron Mountain Data Centers, visit https://www.ironmountain.com/data-centers.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of nearly 93 million square feet across approximately 1,450 facilities in 56 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.

Forward Looking Statements

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not, limited to statements concerning the commencement of the leases and datacenter capacity at full buildout. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations.

These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. Important factors that could cause actual results to differ from expectations include (i) the impact of the COVID-19 outbreak on our business, operations and financial condition, (ii) our ability to remain qualified for taxation as a real estate investment trust for U.S. federal income tax purposes; (iii) the adoption of alternative technologies and shifts by our customers to storage of data through non-paper based technologies; (iv) changes in customer preferences and demand

FAQ

What leases did Iron Mountain sign recently?

Iron Mountain signed two leases at its AZP-2 data center in Phoenix: a one megawatt expansion and a five megawatt deployment.

When are the new leases for Iron Mountain expected to start?

The one megawatt lease is expected to begin in Q3 2021, while the five megawatt lease is anticipated to commence in Q4 2021.

What is the capacity of AZP-2 data center?

The AZP-2 data center is projected to deliver 48 megawatts of total IT capacity at full build-out.

What advantages does the AZP-2 facility offer?

AZP-2 provides scalable capacity, powered by 100% renewable energy, with high-security features and operational excellence.

How much IT load can the Phoenix campus support?

The Phoenix campus is set to support over 100 megawatts of IT load when fully developed.