US data center wholesaler CoreSite reported strong revenue growth for the second quarter, in which the company signed with about 30 new customers and continued building out its inventory of data center space in multiple markets around the US.

Tom Ray, CoreSite CEO, emphasized the real estate investment trust's (REIT's) interconnection play – something more and more data center providers are recently focusing on in their business models. Ray attributed the company's strong Q2 results to its “network-centric, differentiated strategy” in his comments on the results.

“We remain focused upon continuing to increase the number and quality of customer deployments in our portfolio and enhancing the value proposition of the CoreSite Mesh,” he said. CoreSite Mesh is the name of the company's interconnection-services portfolio.

“Regarding growth, we continue to invest to meet customer demand, with four data center projects under way,” Ray added. “We believe that we have considerable upside embedded in our portfolio as we increase the utilization of existing and new inventory, positively mark to market expiring capacity and most importantly, continue to drive increased network density and valuable customer communities across our data centers.”

CoreSite's revenue increased 14% year over year, reaching $57.7m in the second quarter. Its funds from operations (a real-estate equivalent of earnings per share) was $0.45 – up 21.6% year over year.

New leases signed during the quarter and expansions of existing ones represented an additional $5.8m in annual rent income. The leases were signed at an annualized rent rate of $188 per square foot.

Leases commenced on about 43,000 sq ft of space within CoreSite data centers and an annualized rent rate of $147 per square foot.

The company had about 240,000 sq ft of rentable space under construction in four markets, including new data centers in Silicon Valley, Northern Virginia and New York, as well as an expansion of an existing site in Los Angeles.