SANTA CLARA, CA-The city of Santa Clara has approved Denver-based CoreSite Realty Corp.’s application for entitlements to increase the size of its data center campus at Coronado Drive and Stender Way here. The City’s action entitles CoreSite to increase the density of its campus from 229,600 square feet to 496,250 square feet.
The development rights will enable CoreSite to construct three new buildings in addition to CoreSite’s existing 50,000 square-foot data center at 2901 Coronado Dr. The entitlements also allow for construction of a proposed electrical substation on the data center campus.
Included in the plan is CoreSite’s data center at 2972 Stender Way, where CoreSite is currently constructing 101,000 square feet of data center space, doubling the size of the initial 50,400-square-foot entitlement. CoreSite expects to complete the building in the third quarter of 2011.
The 2972 Stender data center is being built to LEED Gold standards, featuring energy-efficient initiatives such as 97%-efficient UPS systems, air-side economization, and variable frequency driven cooling units.
CoreSite tells GlobeSt.com that the estimated cost for the completion of 2972 Stender was $67 million. This included the initial 50,400 net rentable square feet of data center space plus $10.1 million for the incremental 50,600 net rentable square feet of unconditioned core and shell space. The 50,600 net rentable square feet did not include a total cost to build out that space, and CoreSite couldn’t further comment on the development cost.
The planned buildings join CoreSite’s three existing data centers in Silicon Valley, where CoreSite currently owns approximately 365,000 square feet of operating space. Full build out of the Santa Clara campus would bring CoreSite’s Bay Area portfolio to more than 860,000 square feet supporting regional technology needs.
“Our Santa Clara data center campus demonstrates CoreSite’s commitment to energy-efficient data center design,” explains Billie Haggard, CoreSite SVP of Data Centers. “We’d like to thank the City of Santa Clara for sharing our vision of providing important infrastructure supporting economic growth in the region in a responsible, energy-efficient manner. The City’s staff worked closely with our development team to approve our project plans while ensuring that the development is completed consistently with the City's environmental standards.”
The entitlement by the City of Santa Clara solidifies the company’s development plan. “We’re pleased to be on schedule with the project and to deploy the proceeds from our initial public offering as we outlined to the market,” says Thomas Ray, president and CEO of CoreSite. “CoreSite remains focused on growing its national portfolio of intelligently designed, high-quality data centers, served by our integrated operating platform.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, 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.
