CyrusOne Inc. (NASDAQ: CONE), a leading global real estate investment trust (REIT), announced it has broken ground on the first phase of its newest data center location in Frankfurt, Germany.
The facility is CyrusOne's third in the Sossenheim district of the city, offering cloud providers, systems integrators and multinational corporations customized, secure and resilient data center solutions within a key business hub.
Upon completion, expected in Q2 2020, the site will comprise two adjoining, four-story buildings delivering 22 MW of IT power to 11,500 sq. m of world-class technical space. Indirect adiabatic air cooling in each data hall will ensure an extremely low Power Usage Efficiency (PUE).
Frankfurt is one of the fastest growing and most strategically important locations for CyrusOne due to its economic strength and proximity to one of the most important European financial centers, said Tesh Durvasula, President Europe, CyrusOne. This will mark our third expansion facility in Frankfurt and I expect it will effectively be pre-leased by the time we complete construction next year.
The demand we are seeing from US hyperscalers in Europe has been tremendous and we are seeing it accelerate considerably. This development, alongside our other expansion efforts in Dublin, Amsterdam and London underscores our ambition to be the only hyperscale data center provider in Europe. I expect our European business will grow to become about 20 percent of CyrusOne's total revenues in two years.
The rapid construction timeline for the Frankfurt III data center is made possible by CyrusOne's extensive experience building more than 45 data centers worldwide. CyrusOne is using a modular construction method and will work closely with valued partners including Mercury and Klein Architekten.
This press release contains forward-looking statements regarding anticipated results and future events that are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release, other than statements of historical facts, should be considered forward-looking statements, including, without limitation, statements about CyrusOne's plans, objectives, expectations and intentions, and any statement of an assumption underlying any of the foregoing. These statements are based on current expectations, estimates, forecasts and projections about the industries and markets in which we and our customers operate and the current beliefs, opinions and assumptions of our management. Words such as expects, anticipates, predicts, projects, intends, plans, believes, seeks, estimates, continues, endeavors, strives, may, will, should, could, or the negative of these terms or other variations of such words and similar expressions, are intended to identify such forward-looking statements. In addition, any statements that refer to projections of our future financial or operating performance, our anticipated growth and trends in our and our customers' industries, businesses and markets, or other characterizations of future events or circumstances, are forward-looking statements. Readers are cautioned that forward-looking statements are based on management's current expectations and assumptions and are subject to numerous factors, risks and uncertainties which could cause our actual results to differ materially and adversely from those expressed or implied in any forward-looking statement. Factors that could cause or contribute to such differences include, but are not limited to, the Company's ability to successfully develop the Frankfurt III site and execute and integrate its broader expansion and development initiatives in Europe. More information on the factors, risks and uncertainties that could cause or contribute to such differences is included in our filings with the Securities and Exchange Commission, including in the Risk Factors and Management's Discussion and Analysis sections of our Annual Report on Form 10-K and in our subsequent Form 10-Q reports and other filings with the SEC. Any forward-looking statement made in this release speaks only as of the date of this release. We undertake no obligation to update or revise any forward-looking statement, whether as a result of new information, change in circumstances, future events or otherwise, except as required by law.
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including more than 210 Fortune 1000 companies.
With a track record of meeting and surpassing the aggressive speed-to-market demands of hyperscale cloud providers, as well as the expanding IT infrastructure requirements of the enterprise, CyrusOne provides the flexibility, reliability, security, and connectivity that foster business growth. CyrusOne offers a tailored, customer service-focused platform and is committed to full transparency in communication, management, and service delivery throughout its more than 45 data centers worldwide. Additional information about CyrusOne can be found at www.CyrusOne.com.
Source: Antara News