The city of Santa Clara, Calif. has approved entitlements that will allow CoreSite Realty to increase the size of the company's data center campus at Coronado Drive and Stender Way in Santa Clara, California. The city's action more than doubles the amount of data center space CoreSite will be able to build on the 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, fully-leased 50,000 square-foot data center at 2901 Coronado Drive. The entitlements also allow for construction of a proposed electrical substation on the data center campus.
LEED Gold Building Planned
CoreSite is currently building a 101,000 square foot data center facility at 2972 Stender Way, and expects to complete the building in the third quarter of 2011. CoreSite now has the ability to build a third building, a 210,000 square foot data center, at 3001 Coronado Drive.
The CoreSite Santa Clara project was announced in May 2008 as a three-building project with a total price tag of $350 million. Tne city approvals allow the company to pursue its full build-out at the site.
"The entitlement by the City of Santa Clara solidifies the development plan CoreSite presented when we went public," said Thomas Ray, President and Chief Executive Officer of CoreSite. "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."
The 2972 Stender data center is being built to LEED Gold standards, featuring energy-efficient initiatives such as 97percent-efficient UPS systems, air-side economization, and variable frequency driven (VFD) cooling units.
"Our Santa Clara data center campus demonstrates CoreSite's commitment to energy-efficient data center design," said 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 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.
CoreSite Realty (COR) provides access to over 200 network service providers via 11 data centers in seven key U.S. economic centers.