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

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

Monday, January 16, 2017

SEA-US Trans-Pacific Cable Access in CoreSite’s L.A. Data Centers

CoreSite will be the access point for the SEA-US Trans-Pacific Cable System in its Los Angeles data center campus.

Specifically, SEA-US’s Submarine Line Terminating Equipment (SLTE) will be hosted by CoreSite and directly connect the West Coast of the U.S. with Indonesia and the Philippines, including Manado in Indonesia, Davao in Southern Philippines; Piti in the territory of Guam; as well as Honolulu (on the island of Oahu), Hawaii.

The SEA-US system, which spans approximately 15,000 kilometers, is configured with 2-fiber-pairs for an initial capacity of 20 Tbps. The SEA-US system bypasses the is expected to begin operating during the second quarter of 2017.

The CoreSite Los Angeles campus includes two data center facilities – LA1, also known as One Wilshire, and LA2 with over 424,000 square feet of scalable space in downtown Los Angeles, connected by robust dark-fiber assets. With over 500 current customers, 240 of which are networks.

“CoreSite drives high-performance solutions to business requirements by connecting strategic communities of interest supported by best-in-class network and computing services,” said Paul Szurek, CEO of CoreSite. “The SEA-US submarine cable system will be the sixth subsea cable to offer direct access from our Los Angeles campus, augmenting the importance of CoreSite’s data center platform in the trans-Pacific route to key Indonesian and Asian markets.”

he SEA-US trans-Pacific cable system is backed by a consortium of seven investing companies, including PT. Telekomunikasi Indonesia International, Globe Telecom, Hawaiian Telecom, Teleguam Holdings, GTI Corporation, RAM Telecom International (RTI), and Telkom USA.

http://www.CoreSite.com

NEC to Build Southeast Asia to U.S. Cable System



NEC was selected by a consortium of seven global telecommunications companies to build a new submarine cable system that directly connects Southeast Asia and the United States. The Southeast Asia -- United States (SEA-US) cable will span 15,000 km and connect the five areas and territories of Manado (Indonesia), Davao (Philippines), Piti (Guam), Oahu (Hawaii) and Los Angeles. When completed in the Q4 2016, the cable system will support 100G wavelengths...


Monday, November 28, 2016

CoreSite Data Centers Achieve AWS Advanced Technology Partner Status

CoreSite Realty achieved Advanced Technology Partner status in the Amazon Web Services (AWS) Partner Network (APN).

CoreSite said it is one of the first data center providers to achieve this designation from AWS.

AWS Direct Connect is now directly available in four CoreSite markets with deployments in Los Angeles, New York/New Jersey, Silicon Valley and Northern Virginia. Additionally, access to AWS Direct Connect is available in five major markets through CoreSite's Open Cloud Exchange.

AWS Direct Connect provides a dedicated network connection between an Enterprise's network and an AWS Direct Connect location.

http://www.CoreSite.com

Thursday, October 27, 2016

CoreSite's Revenue Grows 17% YoY to $101 Million

CoreSite Realty Corporation reported third-quarter total operating revenues of $101.3 million, representing a 17.2% increase year over year. Reported third-quarter net income per diluted share were $0.36, representing 38.5% growth year over year.

"We delivered another quarter of solid financial and operational performance in the third quarter, highlighted by strong earnings growth and leasing momentum. Our third quarter volume of new and expansion leasing for deployments of 5,000 net rentable square feet or less set a company record, as the demand for performance-sensitive retail colocation solutions remains robust," stated Paul Szurek, CoreSite’s Chief Executive Officer.

“Subsequent to the end of the third quarter, we opened SV7, our 230,000 net rentable square foot turn-key data center building in Santa Clara, which was 62% leased upon opening of the facility, another record for CoreSite. ”

Some highlights for the quarter on CoreSite's data center business:

  • CoreSite executed 162 new and expansion data center leases representing $11.2 million of annualized GAAP rent during the third quarter, comprised of 59,991 NRSF at a weighted-average GAAP rental rate of $187 per NRSF.
  • CoreSite’s third-quarter data center lease commencements totaled 50,455 NRSF at a weighted average GAAP rental rate of $148 per NRSF, which represents $7.5 million of annualized GAAP rent.
  • CoreSite’s renewal leases signed in the third quarter totaled $10.9 million in annualized GAAP rent, comprised of 76,735 NRSF at a weighted-average GAAP rental rate of $142 per NRSF, reflecting a 4.0% increase in rent on a cash basis and a 6.8% increase on a GAAP basis. The third-quarter rental churn rate was 2.2%, which included 160 basis points of churn related to a customer move-out at CoreSite’s VA1 data center.


http://www.coresite.com

Wednesday, October 12, 2016

CoreSite Expands its Silicon Valley Data Center Campus

CoreSite Realty announced the opening of “SV7”, the fifth building on its Santa Clara campus, and its seventh building in the Silicon Valley market.  The company 62% of the 230,000 net rentable square feet of the new facility has already been leased. CoreSite commenced and completed construction on the entire build out of SV7 in order to continue to meet strong demand for multi-tenant data center space in the Silicon Valley market.

"We are pleased to announce the opening of SV7, which underlines our commitment to our continued growth in the important Silicon Valley market,” said Paul Szurek, CEO of CoreSite. “Santa Clara remains one of the top markets in the U.S., with strong data center demand driven by growth in the deployment of leading technology products and services, and we believe that our SV7 development provides a differentiated colocation solution to this robust market. Further, SV7 offers our customers seamless access to the network, cloud and enterprise communities of interest across CoreSite’s Santa Clara campus and the rest of CoreSite’s Silicon Valley data center market.”

http://www.coresite.com

Monday, August 15, 2016

CoreSite Eyes Major Data Center Expansion in No Virginia

CoreSite Realty plans to acquire the Sunrise Technology Park (STP) in Reston, Virginia, a 21.75-acre light-industrial / flex office park 0.3 miles from its existing VA1 and VA2 buildings. CoreSite expects pay $60 million plus transaction costs, followed by an additional $90 million to complete Phase 1 of the master-planned development.

CoreSite said it estimates that it could build over 660,000 square feet of new data center capacity across multiple phases on the new parcel, which currently hosts four buildings totaling 315,000 square feet.

Currently, CoreSite's Reston campus includes two facilities totaling over 390,000 square feet of turn-key data center capacity.

"CoreSite's expansion in the Reston market is an important step in the execution of our strategy to scale our business supporting performance-sensitive customer requirements across our network-dense, cloud-enabled data center platform," said Tom Ray, President and Chief Executive Officer, CoreSite. "This planned expansion to our Reston campus is designed to meaningfully scale our colocation offering in the important Northern Virginia market, leveraging off of the installed network-and-cloud capabilities already deployed at the campus. We believe that our Reston campus presents a nexus of robust, protected, low-latency network rings serving the market, while providing diversity from Ashburn. Additionally, we believe that the planned acquisition of the STP site will provide opportunities for CoreSite to continue its successful history of providing build-to-suit and wholesale data center solutions for customers with larger requirements. With the planned acquisition, we believe that CoreSite will be well-positioned for sustained growth in the important Northern Virginia market."

http://www.coresite.com/about/news-events/press-releases/coresite-to-expand-northern-virginia-campus

Friday, July 29, 2016

CoreSite Appoints Paul Szurek as CEO, Succeeding Tom Ray

CoreSite Realty announced the appointment of Paul Szurek as President and CEO, effective September 10, 2016, replacing Tom Ray, who is retiring.

Szurek has been CoreSite’s lead independent director since September 2010. He has been Chief Financial Officer of Biltmore Farms, LLC, a residential and commercial real estate development and operating company, since 2003. Prior to joining Biltmore Farms, LLC, Mr. Szurek served as Chief Financial Officer of Security Capital Group Incorporated, a publicly traded real estate investment, development and operating company with extensive REIT engagement.

 “It has been a privilege to have served CoreSite over the past 15 years. We have a strong team in place, and now is the right time for new leadership to continue to build upon what we have assembled. I am humbled by what the team has accomplished, and honored to have worked alongside such talented and committed professionals. I look forward to supporting a seamless transition with Paul and am confident in leaving the Company in his hands and under his capable leadership, along with the deep bench of talent we have built over the years,” stated Tom Ray.

http://www.coresite.com

Thursday, January 7, 2016

CoreSite Achieves “Six 9s” Availability for Fifth Consecutive Year

For the fifth consecutive year, CoreSite has achieved portfolio-wide uptime exceeding 99.9999 percent, or “six 9s”, across its platform of data center facilities.

Six 9s availability is equivalent to unscheduled downtime of less than 32 seconds per year against CoreSite’s 100 percent uptime service level agreement. By contrast, five 9s uptime correlates to downtime exceeding five minutes annually. When compared to five 9s, six 9s availability provides businesses with nearly 10 times the statistical reliability in the data center environment. Operating at such a high level of availability and reliability is paramount in today’s high-tech marketplace, underscoring the critical importance of enabling information and communications technology capabilities.

“We are once again pleased that our focus on operational excellence and the professionalism of our Field Operations organization has resulted in our achievement of six 9s uptime across our national platform of highly connected, cloud-enabled, enterprise-class data centers,” said Tom Ray, CEO at CoreSite. “We take pride in delivering high-performance data center and interconnection solutions, all supported by best-in-class customer service, to enable business performance.”

http://www.coresite.com

Monday, June 29, 2015

CoreSite Announces $500 Million Credit Facility

CoreSite Realty Corporation, which operates high-performance data centers across the US, announced an amended and expanded $500 million senior unsecured credit facility.

The credit facility, consisting of a $350 million revolving credit facility and a $150 million term loan, extends CoreSite’s debt maturity profile and increases total debt capacity. The revolving credit facility has a four-year primary term, expiring in June 2019, with a one-year extension option, while the term loan has a five-year term maturing in June 2020. The term loan bears interest at a variable rate, and CoreSite elected to swap the variable interest rate associated with $75 million, or 50% of the principal amount of the term loan facility, to a fixed rate of approximately 2.95%. Net proceeds from the term loan will be used to partially pay down the current revolving credit facility balance.

KeyBank National Association served as administrative agent, and KeyBanc Capital Markets, RBC Capital Markets LLC, Regions Capital Markets and TD Securities (USA) LLC, all served as joint lead arrangers and joint book managers.

“The $500 million credit facility allows us to increase our overall liquidity, decrease our cost of borrowing, and maintain both financial flexibility and a balance between fixed and variable-priced instruments in our capital structure," said Jeff Finnin, CoreSite’s Chief Financial Officer. "When combined with our strong cash flows and balance sheet, the credit facility supports our future growth and development initiatives. We would like to thank our lending institutions for their continued support of CoreSite."

http://www.CoreSite.com


Wednesday, January 7, 2015

CoreSite Opens Huge Data Center in Reston, VA

CoreSite Realty officially opened the second building on its Reston campus, a new 198,000 square foot facility, of which the 50,000 square-foot Phase 1 turn-key data center capacity was leased in Q4 2014 to a single anchor tenant.

Construction has now commenced on Phase 2 of the VA2 build-out, totaling an additional approximate 50,000 NRSF, with completion anticipated in Q2 2015.

CoreSite’s Reston campus provides access to nearly 60 network, cloud and IT service providers, including interconnection with AWS Direct Connect.

“We are pleased to open the first phase of VA2 fully leased to an anchor customer, consistent with our strategy for the facility,” said Tom Ray, CEO of CoreSite. “Further, we believe that the nearly 60 network, cloud and IT service providers already deployed at our Reston campus combine with our market-leading network ecosystem at DC1 and the scalability offered at VA2 to enable CoreSite to offer one of the most comprehensive solutions in the region for performance-sensitive customer requirements.”

http://www.coresite.com

Thursday, October 30, 2014

CoreSite Reports Strength in Data Center Leasing

CoreSite Realty Corporation, which operates major data centers in 8 North American markets, reported Q3 perating revenues of $70.5 million, representing a 16.3% increase year over year. Reported third-quarter funds from operations (“FFO”) of $0.55 per diluted share and unit, representing 17.0% growth year over year.

During the quarter, CoreSite commenced 45,014 net rentable square feet of new and signed expansion leases with GAAP annualized rent of $135 per square foot, increasing stabilized data center occupancy to 86.4%.

Tom Ray, CoreSite’s Chief Executive Officer, commented, “The third quarter reflected continued execution and ongoing momentum throughout the organization.” Mr. Ray continued, “We are pleased with the execution of our sales and marketing teams thus far this year as evidenced by our quarterly results. Leasing activity was healthy across the portfolio, led by the Silicon Valley, New York, Chicago, and Los Angeles markets. We believe our activities closing out 2014 point toward another year of solid growth in 2015, as we set the stage for anticipated new developments within existing facilities across multiple markets in our portfolio, including at BO1, CH1, DE1, NY2, and VA2, and we continue to evaluate developing additional capacity at LA2 and on our Coronado Campus in Santa Clara.”

http://www.coresite.com

Thursday, July 31, 2014

China Telecom Colocates in CoreSite's Silicon Valley Data Center

CoreSite announced a multi-year contract with China Telecom to expand the U.S. data center footprint of one of China Telecom’s premier customers.  The deployment is located at CoreSite’s Coronado data center campus in Santa Clara, California.

CoreSite's Coronado campus is part of the larger CoreSite Silicon Valley market, which is currently comprised of five data centers and more than 860,000 square feet of data center space.

http://www.coresite.com

Thursday, July 17, 2014

CoreSite Offers High Precision Timing Service in its Data Center

CoreSite has begun offering "High Precision Time", a new certified timing service by Perseus Telecom, that is now available by direct interconnection from within CoreSite’s Northern Virginia Market. The service can be used to precisely synchronize time systems across multiple data centers and calibrate their perimeter to sub-nanoseconds of the National Institute of Standards and Technology (NIST) timescale.

Perseus specializes in high-speed global connectivity and managed services for the financial markets, iGaming, multi-media and eCommerce communities.

“High Precision Time provides financial market participants and other customers an accurate time synchronization solution,” said Dr. Jock Percy, Chief Executive at Perseus Telecom. “In addition to its certification and verification benefits, the service mitigates risk by offering the ability to stay ahead of any future time-stamping regulation. We are proud to bring High Precision Time to CoreSite’s Northern Virginia Market, given its proximity to financial markets and rich ecosystem of partners across all verticals.”

http://www.CoreSite.com
http://perseustelecom.com

Thursday, April 3, 2014

Southern Cross Delivers 100G to CoreSite Silicon Valley

Southern Cross Cable Network, a leading Australasian supplier of international subsea capacity, is now delivering 100 Gbps connections at CoreSite’s “SV1” (Silicon Valley) data center, connecting the U.S. to Hawaii, Fiji, Australia and New Zealand.

The 100 Gbps technology has been deployed across all segments of Southern Cross’ 30,000-kilometer submarine network.  The 100Gbps transmission technology increases total lit capacity across Southern Cross’ two cables to 2.6 Terabits per second (Tbps), which will grow to 3.6 Tbps by June 2014.

Tenants at CoreSite’s tethered Silicon Valley campus of data centers in San Jose, Milpitas and Santa Clara, Calif., will have access to seamless high-capacity connectivity without purchasing backhaul to a landing station.

“Through our partnership with Southern Cross, CoreSite customers can now take advantage of exceptional high-performance connectivity linking the heart of Silicon Valley to Australasia,” said Brian Warren, Senior Vice President of Product and Marketing at CoreSite. “Demand for capacity is growing and both CoreSite and Southern Cross share a commitment to providing best-in-class service to meet the needs of our customers.”

“With the exploding growth in customer content and cloud connectivity requirements, our commitment to technology and product development places Southern Cross in a strong position to assist customers in meeting their growing requirements. Southern Cross can currently deliver capacity from as little as 1Gbps up to 100Gbps directly into the CoreSite San Jose facility,” said Ross Pfeffer, sales and marketing director at Southern Cross. “Southern Cross and CoreSite customers now have a unique opportunity to receive high-capacity connectivity through CoreSite’s Silicon Valley data center campus, providing access to one of the largest concentrations of Internet and technology companies.”

http://www.coresite.com/locations/silicon-valley
http://www.southerncrosscables.com