Summary: CoreSite confirmed plans to build its seventh Silicon Valley data centre (SV7) on its Santa Clara campus to meet continued demand for colocation capacity.
Details: SV7 will support 230k sqft of data centre capacity and roughly 35k sqft has been pre-leased. Management expects to break ground in 3Q15 and be close to completing phase one by 2Q16. Management revealed that its serves around 180 customers at its Silicon Valley campus in Santa Clara with the region being one of its top performing markets.
Context: The new SV7 build comes as CoreSite is currently building SV6, a 137k sqft data center also on its Santa Clara campus. The facility is already 100% pre-leased. Management expects to deliver the build-to-suit facility to a strategic customer in 1H16.
