CoreSite Realty Corp. Sunrise Technology Park Brookfield Office Properties $60 million
The Sunrise Technology Park currently has four buildings totaling 315,000 square feet. Denver, CO-based CoreSite has its eye on building out an additional 660,000 square feet of new data center capacity for a grand total of 1 million square feet, or 2.7x the current size of the Reston campus.
The deal should close in the fourth quarter of 2016. CoreSite plans to start developing Phase 1 in the third quarter of 2017. Phase 1 will include a redevelopment of an existing 48,000 square-foot industrial building into a data center and building a ground-up 92,000 square-foot data center shell. A 92,000 square-foot structure will also be built to house the infrastructure that will support the planned full build out of the campus. All told, CoreSite estimates it will invest $90 million for these buildings.
The build out of Phase 1 should deliver in the second quarter of 2018.
There will be additional phases to meet anticipated customer demand. Ultimately CoreSite expects it will invest between $400 million to $500 million across multiple phases for 660,000 square feet of new capacity at Sunrise Technology Park.
Currently, CoreSite's Reston campus includes two facilities totaling over 390,000 square feet of turn-key data center capacity. With the new building at the nearby Sunrise Technology Park,
CoreSite Realty Corp. Sunrise Technology Park Brookfield Office Properties $60 million
The Sunrise Technology Park currently has four buildings totaling 315,000 square feet. Denver, CO-based CoreSite has its eye on building out an additional 660,000 square feet of new data center capacity for a grand total of 1 million square feet, or 2.7x the current size of the Reston campus.
The deal should close in the fourth quarter of 2016. CoreSite plans to start developing Phase 1 in the third quarter of 2017. Phase 1 will include a redevelopment of an existing 48,000 square-foot industrial building into a data center and building a ground-up 92,000 square-foot data center shell. A 92,000 square-foot structure will also be built to house the infrastructure that will support the planned full build out of the campus. All told, CoreSite estimates it will invest $90 million for these buildings.
The build out of Phase 1 should deliver in the second quarter of 2018.
There will be additional phases to meet anticipated customer demand. Ultimately CoreSite expects it will invest between $400 million to $500 million across multiple phases for 660,000 square feet of new capacity at Sunrise Technology Park.
Currently, CoreSite's Reston campus includes two facilities totaling over 390,000 square feet of turn-key data center capacity. With the new building at the nearby Sunrise Technology Park,
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
