Digital Realty Buys Three More Properties
May 10th, 2006 By: Rich Miller
Digital Realty Trust has bought three more properties since the end of the first quarter, the company said Thursday. The three deals total $71.8 million, bringing the year-to-date acquisitions to $94.3 million.
In the largest of the three deals, Digital Realty acquired 101 Aquila Way, a massive 313,600 square foot property in the Atlanta metro market that is fully-leased to Google through 2011. The site was initially built by Exodus in 1999 at the height of the dot-com excitement (thus the 300,000 SF). DRT also acquired 12001 North Freeway in Houston, Texas, a property consisting of six separate single-story buildings totaling 300,700 square feet. The site serves as a data center and Internet gateway facility, and is 92.9% leased, with Level 3 among the major tenants. The third property, 6800 Millcreek Drive, is in Mississagua, Ontario (just outside Toronto, Canada), totals approximately 84,000 square feet and is fully leased to Fusepoint Managed Services.
As of April 30, 2006, Digital Realty’s portfolio comprises 49 properties consisting of 63 buildings totaling approximately 10.0 million rentable square feet, including 1.2 million square feet of space held for redevelopment. The portfolio is strategically located in 23 key technology markets throughout the United States, Canada and Europe.
“Our acquisitions team continues to identify properties that have the potential to complement our portfolio of income producing and redevelopment properties,” said Michael Foust, Chief Executive Officer of Digital Realty Trust. “High quality data center and Internet gateway space required by today’s technology-intensive tenants is limited, particularly in markets such as Northern California, New York Metro, Northern Virginia/Washington D.C. and London. The properties we have acquired so far this year and have targeted for potential acquisition meet the specialized requirements of these diverse, but demanding tenants in key technology markets throughout the U.S., Europe and now Canada.”