Friday, August 12, 2016

CoreSite Expands In Virginia, Buys New Data Center Site

Denver-based data center operator CoreSite Realty says it is expanding in Virginia, and has purchased a technology park in Reston, Virginia. According to CoreSite, it is in a binding agreement to purchase Sunrise Technology Park (STP, a 21.75 acre, light industrial/flex office park near its current buildings in Virginia. CoreSite says it expects to invest $60M plus transaction costs to acquire the site, and expects to spend anywhere from $400M to $500M across multiple phases to build out the new data center in future years.