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Leasing Activity, Rates Rise for Digital Realty

SAN FRANCISCO-The company tallies its highest volume of quarterly activity to date in terms of square footage and annualized GAAP rental revenues.

By Brian K. Miller | Updated on October 02, 2008

SAN FRANCISCO-Digital Realty Trust Inc. said Thursday that it leased nearly 500,000 sf in the third quarter, the highest volume of quarterly activity to date for datacenter REIT in terms of square footage and annualized GAAP rental revenues. Moreover, the rates at which it leased are markedly higher than leases that commenced in the third quarter but were signed in previous quarters.

Digital Realty says it signed leases for 478,000 sf of space in the third quarter, including 262,000 sf of its Turn-Key Datacenter space at an average annual GAAP rental rate of approximately $155 per sf and 171,000 sf of its Powered Base Building space at an average annual GAAP rental rate of $47 per sf. Another 351,000 sf of leases commenced during the third quarter, including 190,000 sf of its Turn-Key Datacenter space at an average annual GAAP rental rate of approximately $142 per sf and 100,000 sf of its Powered Base Building space at an average annual GAAP rental rate of $30 per sf.

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