SAN FRANCISCO-Digital Realty Trust, Inc. has completed the acquisition of two fully leased datacenter properties for a purchase price of $50.3 million. The first property is 2950 Zanker Rd., located in San Jose, CA, and totals approximately 69,700 rentable square feet. The building is 100% leased on a long-term basis to “a major telecommunications company.”
The second property is 900 Dorothy Dr., located in Richardson, TX, in close proximity to the company’s major redevelopment project, Datacenter Park Dallas. The building totals over 56,000 rentable square feet and is 100% leased on a long-term basis to another major telecommunications company, serving as one of its primary switch facilities for the southwest region.
“The addition of these facilities to our operating portfolio expands our footprint in two top-tier datacenter markets and further demonstrates our ability to source and complete the acquisition of high quality assets with credit tenants at attractive yields,” says Scott Peterson, senior vice president of acquisitions.
The company recently purchased a 919,000-square-foot data center portfolio located in California, Arizona and Virginia. That portfolio is referred to as the Rockwood Capital/365 Main Portfolio and the purchase price was approximately $725 million.
Pamela Matthews, director of investor relations at Digital Realty Trust, recently told GlobeSt.com that the company’s strategy is to acquire and “hold our data centers.” Part of its strategy, she says, is to “acquire income producing operating facilities.”
According to the company’s second quarter results, “the company’s overall performance during the first half of 2010 demonstrated our ability to source, finance and execute on a variety of complex transactions including the acquisition and funding of two large datacenter portfolios totaling $1.1 billion,” according to Michael Foust, CEO of Digital Realty Trust. “At the same time, we delivered approximately 207,000 square feet of new datacenter space, signed leases totaling over 535,000 square feet, acquired over 122,000 square feet of redevelopment inventory in Silicon Valley, further improved our balance sheet and funding capabilities, and expanded our build-to-suit business. These remarkable accomplishments are a direct result of the collaborative efforts of our experienced team of real estate investment, development, finance and datacenter professionals.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
