Digital Realty Acquires Five More Properties

Digital Realty Trust spends $57 million to buy five sites, including two unoccupied properties for conversion to data center use.

Rich Miller

January 11, 2006

2 Min Read
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Digital Realty Trust has bought five more technology properties, the company announced today, spending a total of $57.3 million to acquire 575,000 square feet of space in Virginia, New Jersey and Texas. The latest acquisitions include:

251 Exchange Place in Herndon, Virginia, a 71,000 square foot property near Dulles Airport. The building is fully leased on a long-term basis to a leading network provider that uses it as an Internet gateway facility, and was purchased for $12.9 million.

Two buildings at the Met Center Business Park in Austin, Texas near Austin-Bergstrom International Airport. The first building is approximately 45,000 square feet and is 100% leased to a single tenant that uses it primarily as a data center and NOC. The second building is 75,000 square feet and currently unoccupied. Digital realty said it will position the site for redevelopment for an enterpise client, saying it "expects robust demand for the building due to its ideal location for corporate disaster recovery as well as its excellent power and fiber infrastructure." The purchase price for the two buildings was $13.5 million.

Three Corporate Place in Piscataway, New Jersey, a 283,000 square foot office building in a busy corporate market. The property currently is unoccupied but has substantial power and fiber infrastructure, and DRT plans to redevelop the site as a high-quality data center targeting New York area-based financial institutions with synchronous-application disaster recovery requirements. The purchase price of Three Corporate Center was approximately $14.7 million.

4025 Midway Road in Carrollton, Texas, a suburb of Dallas. The building is an approximately 101,000 square foot data center facility that is currently unoccupied and will be marketed to single and multi-tenant users. The purchase price of 4025 Midway Road was approximately $16.2 million.

"These acquisitions support our ongoing strategy to acquire quality facilities that will expand our presence in the United States' top technology markets," said Michael Foust, Chief Executive Officer of Digital Realty Trust. "Additionally, we are very excited to redevelop the New Jersey, Dallas, and Austin properties into high-quality facilities that will meet the long-term demand for data center space in these important markets."

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