DuPont Fabros Technology (DFT) confirmed a new lease totaling 6.83 megawatts with an existing super wholesale Fortune 50 customer for data center space at its Santa Clara, California facility ('SC1"). The company said its tenant leased 2.28 MW of critical load for a term of 5.3 years, bringing Phase I to 100% leased and 94% commenced. The estimated GAAP return on investment of SC1 Phase I is 9.2%. The same Fortune 50 customer also pre-leased 4.55 MW of critical load in Phase II of SC1, enabling DFT to begin development of 9.10 MW of critical load in Phase IIA of SC1. Phase IIA is currently 50% pre-leased and is expected to be completed in the second quarter of 2014.
In addition, DFT announced:
- One new lease in Piscataway, New Jersey ("NJ1") with a new Fortune 25 tenant for 2.28 MW of critical load with a lease term of 7.6 years. The available critical load of NJ1 is now 52% leased and commenced, up from 39%. The raised floor space is now 64% occupied up from 39% as this lease has a lower power density per square foot.
- One new lease in Reston, Virginia ("VA3") with the same Fortune 50 customer referenced above for 2.60 MW of critical load with a lease term of 5.1 years. VA3 is now 71% leased and commenced, up from 51%.
- Acquired 15 acres of vacant land in Elk Grove Village, Illinois to develop a second data center facility.
- Boosted its financial guidate, by increasing the low end from the prior range of $1.82 to $1.92 per share to $1.88 to $1.92 per share.
"We have remained consistently focused on leasing our available inventory and are pleased to announce this significant execution towards our goal. Our overall operating portfolio is now 94% leased and 93% commenced. The newly acquired land in Chicago enables us to capture future demand in one of our best markets and expand upon our campus environment," commented Hossein Fateh, President and Chief Executive officer of DuPont Fabros Technology, Inc.