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The following content is from an older version of this website, and may not display correctly.DRT announced strong leasing activity for both the fourth quarter and full year 2008 saying it doubled leases in contract value over 2007.
For the full year 2008, lease signings represent over $1.0 billion with leases started in 2007 totaling approximately 1,144,000 square feet, which represents a fifty percent increase over leases commenced for the year ended December 31, 2007. This includes nearly 696,000 square feet of Turn-Key Datacenter space leased at an average annual GAAP rental rate of $142.00 per square foot, over 269,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of $42.00 per square foot, and approximately 180,000 square feet of non-technical space leased at an average annual GAAP rental rate of $22.00 per square foot.
For the quarter ended December 31, 2008, the Company commenced leases totaling approximately 320,000 square feet of space. This includes nearly 164,000 square feet of Turn-Key Datacenter(TM) space leased at an average annual GAAP rental rate of $154.00 per square foot, approximately 119,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of $49.00 per square foot, and approximately 38,000 square feet of non-technical space leased at an average annual GAAP rental rate of $15.00 per square foot.
"We are very pleased with both our fourth quarter and full year 2008 leasing results," said Michael F. Foust, CEO of Digital Realty Trust. "Total lease commencements for the year ending December 31, 2008 increased 50% over the same period in 2007, primarily due the strong demand for high quality datacenter space combined with widespread adoption of our Turn-Key Datacenter product. Leased square footage commencing for this flexible, dedicated IT infrastructure solution was over four times higher in 2008 than for leases commencing in 2007."
Chris Crosby, Senior Vice President of Sales and Technical Services for Digital Realty Trust added, "Given the very difficult economic environment in the fourth quarter, we are especially proud of our continued strong leasing momentum and we believe it is indicative of the critical nature of datacenter facilities."
For the full year 2008, lease signings represent over $1.0 billion with leases started in 2007 totaling approximately 1,144,000 square feet, which represents a fifty percent increase over leases commenced for the year ended December 31, 2007. This includes nearly 696,000 square feet of Turn-Key Datacenter space leased at an average annual GAAP rental rate of $142.00 per square foot, over 269,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of $42.00 per square foot, and approximately 180,000 square feet of non-technical space leased at an average annual GAAP rental rate of $22.00 per square foot.
For the quarter ended December 31, 2008, the Company commenced leases totaling approximately 320,000 square feet of space. This includes nearly 164,000 square feet of Turn-Key Datacenter(TM) space leased at an average annual GAAP rental rate of $154.00 per square foot, approximately 119,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of $49.00 per square foot, and approximately 38,000 square feet of non-technical space leased at an average annual GAAP rental rate of $15.00 per square foot.
"We are very pleased with both our fourth quarter and full year 2008 leasing results," said Michael F. Foust, CEO of Digital Realty Trust. "Total lease commencements for the year ending December 31, 2008 increased 50% over the same period in 2007, primarily due the strong demand for high quality datacenter space combined with widespread adoption of our Turn-Key Datacenter product. Leased square footage commencing for this flexible, dedicated IT infrastructure solution was over four times higher in 2008 than for leases commencing in 2007."
Chris Crosby, Senior Vice President of Sales and Technical Services for Digital Realty Trust added, "Given the very difficult economic environment in the fourth quarter, we are especially proud of our continued strong leasing momentum and we believe it is indicative of the critical nature of datacenter facilities."