Leasing On Track for Digital Realty

SAN FRANCISCO-A few days ahead of its third quarter earnings release and conference call, Digital Realty Trust Inc. reported third quarter leasing activity and says it is on track to meet its 2009 goals in that regard.

Leases commenced on 101,000 square feet of space during the quarter, most of it’s the company’s most expensive space, Turn-Key Datacenter space, which leased at an average GAAP rental rate of $187 per square foot. Leases were signed for an additional 93,000 square feet during the quarter, with the company’s turn-key datacenter space leased out at a rental rate of $176 per square foot.

In the same year-earlier period, leases commenced on more than 350,000 square feet, with the 190,000-square-feet of turn-key space renting for $142 per square foot. Signed leases in the third quarter of 2008 totaled 478,000 square feet, with the turn-key space renting for $155 per square foot.