Showing posts with label Coresite. Show all posts
Showing posts with label Coresite. Show all posts

Monday, November 11, 2019

CoreSite increases borrowing capacity to $1.15 billion

CoreSite Realty has extended its debt maturity profile and expanded its credit facility with total borrowing capacity of $1.15 billion, including all arrangements with its syndicate of banks.

CoreSite said it has addressed all near-term debt maturities by combining and extending its 2020 and 2021 term loan maturities into a $350 million term loan due in April 2025. This new term loan represents $100 million of incremental borrowing capacity. Additionally, the term of CoreSite’s $450 million revolving credit facility was extended to 2023.

“We are pleased by the opportunity to extend near-term maturity dates and increase our overall liquidity, each of which will support our future growth and development initiatives,” said Jeff Finnin, CoreSite’s Chief Financial Officer. “We would like to thank our lending institutions for their continued support of CoreSite and for providing us with the financial flexibility to continue to profitably grow and meet our customer needs.”

http://www.CoreSite.com

Monday, October 14, 2019

CoreSite boosted its Power Utilization Effectiveness by ~7%

CoreSite improved its 2018 Power Utilization Effectiveness by about 7% on a same-store basis compared to 2017.

Some additional highlights from the newly-released Corporate Sustainability Report:


  • completed a chiller project for more than 9,800 MW of energy savings achieved in 2018 at its LA2 data center and being awarded nearly $3 million by the Los Angeles Department of Water and Power for this project and its savings
  • achieved “Seven 9s” of reliability across its platform of data center facilities, resulting in high customer satisfaction, and
  • women represented 41% of CoreSite’s headquarters workforce and 20% of its Board of Directors
  • minorities and veterans represented 42.3% and 14.5%, respectively, of its total workforce, and
  • an average workforce tenure of 4.1 years.
“Customers, Colleagues, and Communities are three words to describe how our business strategy intertwines with our sustainability practices,” said Paul Szurek, CoreSite’s President and Chief Executive Officer. “Since 2001, CoreSite has been committed to best-in-class customer experience and value, an engaging, attractive and diverse employment environment, and practices that help our customer communities thrive sustainably, In our second Corporate Sustainability Report, we summarize our ongoing journey of being a responsible steward of our business for all our stakeholders.”

In addition, CommScope noted the recently opening of its newest colocation facility VA3 in Reston, Virginia.

As of June 30, 2019, CoreSite’s Northern Virginia market was comprised of over 280 customers, which includes approximately 40 cloud providers, 170 enterprises, and 70 network providers. Additionally, the Fairfax County location allows CoreSite to serve the native base of enterprises, systems integrators, universities, and governmental agencies with the lowest latency to the largest public clouds.

“The CoreSite Reston campus provides customers cloud connectivity and delivers the highest security and performance, low latency, with the lowest cost of cloud service utilization,” said Juan Font, CoreSite’s Senior Vice President, General Management. “With over 100MW of expected capacity for the Reston Campus Expansion, and the multi-cloud capabilities of the CoreSite platform, we are in a position to deliver the maximum degree of scale, operational flexibility and performance throughout the entire lifecycle of customers’ digital transformation journey,” said Font.

Tuesday, July 30, 2019

CoreSite offers SDN-powered connectivity between data centers

CoreSite Realty is now offering SDN-powered inter-site connectivity between seven of its edge markets.

The CoreSite Inter-Site Connectivity solution enables customers to be secure their distributed IT infrastructure with private connections, versus accessing data over the Internet. The connectivity improves performance and reduces network provisioning times. CoreSite also provides access to more than 775 network, cloud and IT service providers.

“We are pleased to offer SDN connectivity between our markets by leveraging the CoreSite Open Cloud Exchange through the reach of its capabilities and ease of its online portal,” said Maile Kaiser, CoreSite’s SVP of Sales. “With the CoreSite Inter-Site Connectivity solution, we make it easier for customers to expand and connect to CoreSite’s rich ecosystem of cloud and network providers as well as other enterprise organizations.”

http://www.coresite.com

Wednesday, July 24, 2019

CoreSite posts Q2 data center revenue of $142.9m, up4.7%

CoreSite reported Q2 operating revenues of $142.9 million, an increase of 4.7% year over year and 2.9% sequentially. The company delivered net income of $0.53 per common diluted share, a decrease of $0.04 year over year and $0.01 sequentially.

“We continued to execute on our 2019 imperatives to accelerate growth in 2020 and beyond,” said Paul Szurek, CoreSite’s President and Chief Executive Officer. “We completed projects in our property development pipeline, delivering nearly 100,000 square feet of data center capacity, and began construction for our new ground-up purpose-built data center in Los Angeles. "

Some Q2 highlights:

  • Commenced 140 new and expansion leases for 65,193 net rentable square feet (“NRSF”), representing $10.2 million of annualized GAAP rent, for an average rate of $176 per square foot
  • Signed 135 new and expansion leases for 142,824 NRSF and $27.3 million of annualized GAAP rent, for an average rate of $191 per square foot
  • Renewed 328 leases for 121,809 NRSF and $24.1 million of annualized GAAP rent, for an average rate of $198 per square foot, reflecting 2.6% cash rent growth, 7.4% GAAP rent growth and 2.4% churn
  • On April 12th, closed SV9 land purchase in Santa Clara, Clara, California, that is suitable for a data center facility of at least 200,000 NRSF. Pre-construction activity is underway.


Sunday, May 12, 2019

CoreSite's Cloud Exchange offers AWS Direct Connect at 1/2/5/10G

CoreSite announced the availability of Hosted Connections with 1, 2, 5, or 10 Gbps of capacity for Amazon Web Services (AWS) Direct Connect.

These connectivity capacities are available through the CoreSite Open Cloud Exchange, enabling direct, private, virtual connectivity into AWS.

The CoreSite Open Cloud Exchange establishes direct, secure, virtual connections between enterprises, networks and cloud providers, including major public clouds such as AWS, Microsoft Azure and Oracle Cloud.

“We’re excited to expand our offering of Hosted Connections through AWS Direct Connect with bandwidth capabilities now up to 10 Gbps,” said Gerry Fassig, Vice President of Sales. “With AWS Direct Connect services and CoreSite’s Open Cloud Exchange, we can provide access to the cloud and multiple regions from any CoreSite location. As our customers grow their digital strategies we can serve their needs through flexible, powerful hosted or direct connect capabilities.”

Thursday, April 4, 2019

CoreSite offers 10G access to Google Cloud’s Dedicated Interconnect

CoreSite is now supporting Google Cloud’s Dedicated Interconnect product in both their Los Angeles and Denver markets. This service from Google Cloud allows enterprise and network service providers that are collocated with CoreSite to directly connect to Google Cloud Platform through 10 Gbps  fiber interconnects.

The  dedicated Interconnect offers guaranteed uptime of 99.99%.

“CoreSite is pleased to announce the availability of direct fiber interconnection to Google Cloud Platform, providing our customers with a dedicated, flexible and high-performance solution to optimize their evolving cloud and connectivity requirements,” said Maile Kaiser, Senior Vice President of Sales at CoreSite.

In addition to Dedicated Interconnect in CoreSite’s Los Angeles and Denver markets, CoreSite customers are able to connect directly to Google Cloud Platform via the CoreSite Any2Exchange in Chicago, Denver, and Los Angeles. Additionally, customers may access Google Cloud Platform from all of CoreSite’s markets via its network-rich ecosystem of providers or through its inter-site connectivity in select markets. CoreSite offers numerous inter-site connectivity options including lit transport solutions and dedicated dark fiber.

CoreSite’s Any2Exchange is the second-largest Internet exchange in the United States and is the largest Internet exchange on the West Coast. With CoreSite’s Any2Exchange, customers can make secure, SLA-backed, low-latency connections over one port and at a variety of speeds (including 1Gbps, 10Gbps, and 100Gbps) with direct peering to Google Cloud Platform. Customers connecting directly to Google Cloud Platform benefit from reduced congestion and routing issues, reduction in transit costs, lower latency and reduced complexity, all while having access to connect and peer with over 400 participating members.

Thursday, February 21, 2019

CoreSite opens data center in Washington DC

CoreSite has expanded its Washington DC campus with a new colocation data center. The new 25,000 square foot facility in downtown Washington connects via high-count dark fiber to CoreSite’s DC1 data center, one of the company’s key interconnection hubs on the East Coast, as well as to its Reston campus in Northern Virginia.

“The addition of our DC2 data center increases our robust ecosystem to serve customers with one of the most inter-connected data center campuses in Washington D.C.,” said Juan Font, CoreSite’s SVP of General Management. “The addition of this facility to our D.C. campus delivers large scale and efficient data center design that enables local enterprises and government agencies to solve for mission critical, performance-sensitive hybrid cloud applications, as well as serving as a diverse point of interconnection to Northern Virginia submarkets."

Wednesday, February 6, 2019

CoreSite's Q4 revenue rises 10.5% yoy

CoreSite Realty reported Q4 2018 operating revenues of $139.1 million, up 10.5% year over year and in line sequentially. Q4 net income amounted $0.54 per diluted common share, up 22.7% year over year and 3.8% sequentially.

CoreSite said scale colocation leasing for the quarter was impacted by the fact that occupancies were high and therefore capacity was constrained for large blocks of contiguous space in certain markets.

“We delivered solid results in 2018, while expanding our customer ecosystem and building our new capacity pipeline,” said Paul Szurek, CoreSite’s Chief Executive Officer. “In 2019, our focus is to continue executing on high-value edge and hybrid cloud deployments requiring direct interconnection to networks and cloud on-ramps. This includes our goals of delivering significant new capacity and translating it into attractive sales growth, acquiring many new customers and continuing to deliver a strong customer experience.”

Some highlights:

  • Commenced 116 new and expansion leases including 22,684 net rentable square feet (NRSF), representing $4.4 million of annualized GAAP rent at an average rate of $192 per square foot
  • Signed 115 new and expansion leases including 16,125 NRSF, representing $4.2 million of annualized GAAP rent at an average rate of $259 per square foot
  • Renewed 303 existing leases including 125,078 NRSF, representing $22.5 million of annualized GAAP rent, at an average rate of $180 per square foot, including churn of 1.9%, reflecting 3.0% cash rent growth and 7.0% GAAP rent growth
  • In 2018, CoreSite achieved 99.99999% reliability, or “seven 9s,” exceeding its target of “six 9s.”
  • CoreSite delivered approximately 7% improvement in Power Utilization Efficiency on a same-store basis compared to 2017

Monday, December 3, 2018

CoreSite adds Microsoft Azure ExpressRoute in Silicon Valley, No.VA

CoreSite Realty Corporation announced the availability of private connectivity to Microsoft Azure ExpressRoute cloud services at CoreSite’s data centers in the Silicon Valley and Northern Virginia markets.

The CoreSite Silicon Valley portfolio includes seven operational data centers with an additional facility under construction, providing colocation solutions to one of the largest concentrations of Internet and technology companies in the world. More than 185 international and national carriers, social media companies, cloud computing providers, media and entertainment firms, and enterprise customers connect to do business in CoreSite’s Silicon Valley data centers.

The CoreSite Northern Virginia portfolio includes multiple operational facilities across Washington, D.C. and Reston, VA. CoreSite’s recent growth in the market, including the addition of DC2 and VA3, will create a total footprint of over 1,096,000 square feet of colocation data center space upon full build out.

Thursday, October 25, 2018

CoreSite says monthly recurring revenue per data center cabinet increased 7.0% yoy

CoreSite Realty reported total operating revenues of $139.2 million for Q3 2018, a 13.1% increase year over year. Third-quarter net income per diluted share was $0.52, a 13.0% increase year over year.

“We continue to execute our core business strategy focused on high-value customer deployments, which favor direct interconnection to networks and cloud on-ramps. We are expanding our customer ecosystem and benefiting from strong organic growth,” said Paul Szurek, CoreSite’s Chief Executive Officer. “Our core retail colocation business continued its consistent leasing performance at good pricing, acquiring valuable new logos and expanding with key strategic customers and we made good progress on construction and development activities which will strengthen our scale leasing to edge deployments over the next eighteen months.”

Q3 Highlights for CoreSite's data center business

  • Data center lease commencements totaled 36,576 NRSF at a weighted average GAAP rental rate of $160 per NRSF, which represents $5.9 million of annualized GAAP rent.
  • Renewed leases with annualized GAAP rent of $16.2 million, with rent growth of 3.2% on a cash basis and 5.8% on a GAAP basis, and recorded rental churn of 2.5% in the third quarter
  • Executed 120 new and expansion data center leases for 31,330 NRSF, representing $6.1 million of net annualized GAAP rent at an average rate of $193 per square foot
  • CoreSite’s renewal leases signed in the third quarter totaled $16.2 million in annualized GAAP rent, comprised of 97,682 NRSF at a weighted-average GAAP rental rate of $166 per NRSF, a 3.2% increase in rent on a cash basis and a 5.8% increase on a GAAP basis. The third-quarter rental churn rate was 2.5%.
  • As a result of renewals and growth in interconnection and power revenues, monthly recurring revenue per cabinet equivalent increased 7.0% over the prior-year period.
  • As of September 30, 2018, CoreSite had a total of 160,591 square feet of turn-key data center capacity under construction and had spent $100.7 million of the estimated $281.8 million required to complete the projects.

Monday, July 30, 2018

The Carlyle Group sells some of its shares in CoreSite to Citi

CoreSite Realty Corporation (NYSE:COR) announced the sale of 2,250,000 shares of its common stock by investment funds affiliated with The Carlyle Group to Citigroup and Credit Suisse Securities (USA) LLC, as the underwriters in connection with the offering.

Share of COR closed at $113.03 on 30-July-2018, valuing the transaction at around $254 million.

CoreSite noted that investment funds affiliated with The Carlyle Group will continue to hold an aggregate of 11,525,390 partnership units in CoreSite’s operating partnership that they may elect to redeem in whole or in part for cash or, at CoreSite’s option, CoreSite may elect to acquire those operating partnership units submitted for redemption in exchange for shares of its common stock on a one-for-one basis. If all such operating partnership units were tendered for redemption and CoreSite elected to acquire such units in exchange for shares of its common stock, investment funds affiliated with The Carlyle Group would own an aggregate of 23.9% of CoreSite’s issued and outstanding common stock.

Monday, June 25, 2018

CoreSite launches Open Cloud Exchange powered by Ciena Blue Planet

CoreSite will be launching an enhanced Open Cloud Exchange platform next month based Ciena’s Blue Planet Multi-Domain Service Orchestrator (MDSO), which is an open and vendor-agnostic software solution that rapidly creates, deploys, and automates the end-to-end provisioning of network services spanning the WAN, data center, and cloud.

The enhanced CoreSite Open Cloud Exchange platform will provide customers with improved functionality and additional features, including support for single port connections to Microsoft Azure ExpressRoute, enhanced capacity management capabilities, support for 100Gbps connections, and robust API functionality.

CoreSite says its Open Cloud Exchange is its fastest-growing interconnection product, providing customers with direct access to leading public and private cloud providers, along with network and solution providers, including AWS Direct Connect, Microsoft Azure ExpressRoute, Alibaba Cloud, Faction and PacketFabric. It is available across all 8 of CoreSite’s markets.

“Innovative data center providers like CoreSite understand the benefit of leveraging advanced software solutions to not only reduce network complexity and costs, but to help accelerate service delivery and provide a best-in-class customer experience. Ciena’s Blue Planet solution accomplishes these goals by providing software control and intelligent automation capabilities that will enable CoreSite’s network providers to truly adapt to rapidly changing IT environments,” said Kailem Anderson, Vice President of Software and Services at Ciena.

"We are excited to work with Ciena’s world-class development team to create for our customers an exceptional Open Cloud Exchange upgrade to provide our customers innovative ways to efficiently and effectively customize and optimize their network architecture,” said Brian Warren, Senior Vice President of Product and Engineering at CoreSite. “This new platform will provide our customers with the ability to quickly adapt to new demands, while maintaining full self-service control of network transformation.”

Wednesday, March 7, 2018

CoreSite activates VMware Cloud on AWS

CoreSite announced the availability of dedicated, private connectivity into VMware Cloud on AWS in its first four markets. Direct connectivity to VMware Cloud on AWS is now available through fiber interconnections or through the CoreSite Open Cloud Exchange in four CoreSite markets, including Boston, Denver, New York and Northern Virginia.

VMware Cloud on AWS brings together VMware’s enterprise-class Software-Defined Data Center (SDDC) software and elastic, bare-metal infrastructure from Amazon Web Services (AWS).

“VMware Cloud on AWS provides customers a seamlessly integrated hybrid cloud offering that gives customers the SDDC experience from the leader in private cloud, running on the leading public cloud provider, AWS,” said Mark Lohmeyer, vice president and general manager, Cloud Provider Unit, VMware. “Solutions such as VMware Cloud on AWS enable IT teams to reduce cost, increase efficiency, and create operational consistency across cloud environments. We’re excited to work with partners such as CoreSite to enhance native VMware Cloud on AWS capabilities and empower customers with flexibility and choice in solutions that can drive business value.”

Thursday, February 8, 2018

CoreSite's data center business continues to grow, up 14% in Q4

CoreSite Realty reported Q4 2017 revenue of $125.9 million, representing a 14.0% increase year over year. Reported fourth-quarter net income per diluted share of $0.44, consistent with the prior-year level.

During Q4, CoreSite executed 128 new and expansion data center leases comprising 41,521 net rentable square feet (NRSF), representing $7.2 million of annualized GAAP rent at an average rate of $174 per square foot. The company also commenced 52,221 NRSF of new and expansion leases representing $8.2 million of annualized GAAP rent at an average rate of $157 per square foot.

“We finished out the year with solid results, highlighted by fourth-quarter revenue, adjusted EBITDA and FFO growth, before the one-time Preferred Stock redemption charge, of 14%, 13%, and 11%, year over year, respectively,” said Paul Szurek, CoreSite’s Chief Executive Officer. “Organic growth was driven primarily by the continued expansion of existing customers across the portfolio and also by new logo growth as we continue to attract valuable deployments to our facilities, driving interactions and interconnections among our customers. When looking at 2017 in its entirety, we executed well on our strategic priorities and took important steps to grow our differentiated scalable and flexible campus strategy in key markets, including Santa Clara, Northern Virginia, Los Angeles, and most recently, Chicago.”

Wednesday, January 17, 2018

Alibaba Cloud plugs into CoreSite Silicon Valley and No. Virginia

CoreSite is now offering private connectivity to Alibaba Cloud Open Cloud Exchange data centers in Silicon Valley and Northern Virginia.

Customers can now get direct connectivity to Alibaba Cloud, including enhanced security, optimal network performance, and compatibility with the full suite of Alibaba Cloud services including Virtual Private Cloud (VPC), Elastic Compute Service and Object Storage Service.

As one of the largest global cloud services providers, we are pleased to partner with CoreSite to extend the reach of Alibaba Cloud services,” said Karen Lu, General Manager, Alibaba Cloud North America. “By leveraging the CoreSite ecosystem, we will be able to provide more customers access to our comprehensive worldwide suite of cloud computing services in order to help grow their businesses.”

Tuesday, November 14, 2017

CoreSite brings AWS Direct Connect to its Denver data center

CoreSite announced AWS Direct Connect service in its Denver campus (DE1 and DE2), which is located in the center of the city.

CoreSite noted the presence of over 75 network, cloud, and IT service providers within these two data centers.

AWS Direct Connect enables customers to directly access AWS over a private, enterprise-grade network connection.

With this expansion, CoreSite customers have direct access to all AWS Regions globally, with native connectivity to AWS Direct Connect now available in five markets including Denver, Los Angeles, New York, Silicon Valley, and Northern Virginia. In addition, connectivity to AWS Direct Connect is available across seven major markets, including Boston and Chicago, through the CoreSite Open Cloud Exchange.

Monday, August 21, 2017

CoreSite Extends Microsoft Azure ExpressRoute to more data centers

CoreSite announced the expanded availability of Microsoft Azure ExpressRoute, which can now be privately accessed from seven of CoreSite’s markets across the country, including Northern Virginia, Chicago, Silicon Valley, Denver, Los Angeles, New York, and Boston.

This enables CoreSite customers to privately connect to Microsoft Azure, Office 365 and Dynamics 365 via the CoreSite Open Cloud Exchange, which provides high-performance, SLA-backed virtual connections and on-demand provisioning.

“We are excited to announce the expanded availability of Microsoft Azure ExpressRoute connectivity to our customers across seven of our key markets,” said Brian Warren, Senior Vice President of Engineering & Product at CoreSite. “We are enabling our customers with the solutions necessary to bring together all of their applications, data, devices, and resources, both on-premise and in the cloud, with predictable, reliable and secure high-throughput connections.”

http://www.coresite.com

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Saturday, August 19, 2017

Expereo opens SD-WAN POP at CoreSite Miami

Expereo, a leading managed SD-WAN, Internet connectivity services and cloud acceleration solutions provider, has deployed a new network Point of Presence (PoP) at CoreSite's Miami data center.

Expereo’s Miami POP provides 10GB connectivity to Latin America for its Cloud Acceleration service, called Accelerated Cloud Access (XCA). The company said this service overcomes the limitations of Border Gateway Protocol (BGP) routing to deliver improved user productivity experiences for cloud applications, through speed and reliability optimized Internet routing.

“CoreSite is a high-performance partner that we know is highly reliable and provides an excellent customer experience,” said Sander Barens, Vice President of Commercial Development at Expereo. “As we worked to establish our Miami POP, it was clear to us that CoreSite was best positioned to provide the required international connectivity options that we need to support our Latin America services and ensure our customers have the performance and connectivity they expect from Expereo.”

http://www.coresite.com

Thursday, August 10, 2017

Tata teams with CoreSite to support enterprise digital transformation

CoreSite Realty, a provider of data centre and interconnection solutions across the U.S., announced that it has partnered with Tata Communications, a global provider of network, cloud, security and mobility services, to support the digital transformation.

Under the agreement, Tata Communications and its global communications and technology teams will have access to CoreSite's data centre and interconnection solutions across the U.S. Tata noted that the expansion of its cloud and managed hosting services in the U.S. through CoreSite is part of its strategy designed to facilitate customers' digital transformation initiatives without increasing costs.

Through the new relationship, CoreSite's data centre solutions teams will become extensions of Tata Communications' team to support its managed hosting and IZO cloud enablement platform in the U.S. As part of the partnership, Tata Communications has deployed a new IZO private cloud node in CoreSite's NY2 data centre in New Jersey to support U.S. enterprise adoption of hybrid cloud securely and flexibly.

The fully-managed IZO private cloud offering gives CIOs control over all their applications by creating a hybrid, high-performance IT infrastructure in which different cloud, colocation and managed hosting environments work together as a whole. In addition, via IZO private cloud, U.S. enterprises also gain access to IZO cloud storage for unlimited volumes of data in an always available and secure environment.

By working with CoreSite, Tata Communications will expand its data centre capacity by a total of 2.2 million sq feet spread across eight of the largest data centre markets in the U.S.

As part of the agreement, Tata Communications has become a member of the CoreSite Marketplace, which provides a dynamic web-enabled interface that provides customers with information about other service providers and support for their IT strategies.

Thursday, April 27, 2017

CoreSite's Q1 Revenues up 24% YoY

CoreSite Realty reported first-quarter total operating revenues of $114.9 million, representing a 24.3% increase year over year. CoreSite reported net income attributable to common shares of $16.3 million, or $0.48 per diluted share, for the three months ended March 31, 2017, compared to $11.3 million, or $0.37 per diluted share for the three months ended March 31, 2016, an increase of 29.7% on a per-share basis.

During the quarter, Coresite executed 128 new and expansion data center leases comprising 46,484 net rentable square feet (NRSF), representing $9.7 million of annualized GAAP rent at an average rate of $209 per square foot.

We continued our momentum from Q4 and started the year strongly in the first quarter. Importantly, we continued to execute on our business objectives while increasing efficiency and effectiveness across our organization,” said Paul Szurek, CoreSite’s Chief Executive Officer. “We are pleased to see sustained solid leasing activity, with new and expansion sales of nearly $10 million in the first quarter well distributed across each of our key verticals of network providers, cloud-service providers and enterprises.

http://www.coresite.com

See also