Dupont Fabros landed a sizable lease with Facebook for close to 7.5 megawatts of critical load in Ashburn, Virginia. Facebook is taking down close to 45,000 square feet in the new ACC7 facility, Dupont Fabros' biggest data center in its portfolio.
Facebook now leases over 40 megawatts of critical load across Dupont Fabros’ Ashburn campus. The new lease includes space for 4.5 megawatts in ACC7 Phase I which commences immediately; and close to 3 megawatts in ACC7 Phase II. Facebook also leases nearly 36 megawatts of critical load at three other facilities located on DFT's Ashburn data center campus.
Dupont Fabros is currently constructing a second phase in ACC7 consisting of 9 megawatts and 50,000 square feet of space, due to open in the fourth quarter. ACC7 is already 84 percent leased on a critical load basis.
"We are gratified by Facebook's confidence in DFT and our ability to provide continuous and highly efficient power and cooling to their computer servers and network equipment," said Christopher Eldredge, president and chief executive officer, Dupont Fabros. "The expanded relationship with Facebook gives us the opportunity to customize leases with terms that suit the long-term goals of both companies."
The company reported positive leasing trends for the first quarter – however, this lease is more than all first quarter leasing activity. The contract was signed earlier this month. Dupont Fabros’ occupancy across its entire portfolio is 96 percent with the new lease, up from 94 percent.
As part of the ACC7 lease, Dupont Fabros and Facebook amended each of Facebook's existing leases. Facebook has the right to individually decrease the term of the lease of each of nine computer rooms, each with 2.3 megawatts of available critical load, provided the aggregate reduction in lease terms does not exceed 67 months, or an average of approximately seven months per computer room.
The amendments also extended the lease of one computer room totaling 2.3 megawatts of available critical load by six months and two computer rooms totaling 4.3 megawatts of available critical load by twelve months each.