Terremark Worldwide, Inc, a leading operator of integrated Internet exchanges and a global provider of managed IT infrastructure solutions for government and private sectors, has announced it has secured a 30-acre site in Culpeper County, Virginia to build a new state-of-the-art data center campus fulfilling the company's stated objective to expand in the Washington, DC area.
Terremark has designed a master plan for the site that will allow for modular growth of the campus based on customer demand. The master plan calls for five data center facilities that can each yield approximately 50,000 square feet of colocation space. Each facility would be a highly secured stand alone structure that could house either commercial or Federal government customers. The site, which is strategically located outside of the "blast zone", will be designed to the strictest security standards mandated by the Federal government, including significant perimeter set backs.
This site will be directly linked to Terremark's flagship facility the NAP of the Americas in Miami, providing customers with access to the full range of networks and services in that facility, including the commercial sector and Federal government Network Operations Centers (NOCs). The data center will feature state-of-the-art physical infrastructure consistent with Terremark's other Internet exchanges including high power density to meet the needs of the servers use by today's growing IP, video and other IT applications.
As previously disclosed, Terremark anticipates that the build-out of the first data center facility will require an initial investment of $55 million to $60 million. The timing of the investment in each additional data center facility will be based on additional customer demand. The Company expects to fund the purchase price of $4.4 million with the proceeds of the interim financing announced last week. Pursuant to the interim financing, Credit Suisse has agreed to purchase the site in Culpeper and lease it back to Terremark. Terremark will have the option to purchase the property from Credit Suisse at the original purchase price plus accrued interest. "Terremark has been evaluating a number of locations for its new data center facility in the Washington/Virginia area for some time," said Manuel D. Medina, chairman of Terremark Worldwide, Inc. "The Culpeper County site has great attributes and supports our long-term objectives to solidify our market leadership and expansion program as well as meet our customers' growing demands."
At an official ceremony held in Culpeper County, Virginia Governor Tim Kaine said, "Terremark's new campus will be among the largest colocation data center sites in the US. High tech expansions of this caliber are a focus of my administration and the high-paying jobs it will generate will be a great asset to the region." The company plans to break ground in June of 2007 and anticipates it will begin deploying customers during the June 2008 quarter.