DuPont Fabros closed 2011 with a nearly 20% revenue increase over the prior 12 months and tens of megawatts of new capacity around the US.
The US real estate investment trust reported full-year earnings of US$0.71 per share for 2011 – up from $0.51 per share it reported for 2010. Its full-year revenue increased 19% to $44.9m.DuPont attributed the revenue jump to new leases that commenced in 2011.
DuPont CEO Hossein Fateh said the company had launched five new developments over the past 15 months, providing a total of 85.8MW of critical load. Half of this space has been leased, and the company’s primary focus for 2012 is to lease the rest.
“The timing of corporate decision making by potential tenants to execute leases is not always predictable, but we remain optimistic regarding the long–term demand for our strategically located wholesale facilities,” Fateh said.
DuPont’s stabilized portfolio – facilities that are either 85% or more leased or have been in service for two years or longer – is 99% leased, as of the end of 2011. Its non-stabilized footprint is 39% leased.
Its total operating properties were 79% leased. The company currently has a total of 187.3MW of critical capacity in operation.
The stabilized portfolio includes six data centers in Virginia (four in Ashburn, one in Reston and one in Bristow), and the first phase of the company’s Elk Grove Village (Chicago suburb) data center. The non-stabilized portfolio consists of first phases in DuPont’s New Jersey and Santa Clara data centers, as well as Phase I of its fifth Ashburn facility.
Since 2012 started, DuPont Fabros launched the second phase of its Elk Grove Village data center (18.2MW). The company has signed one lease totaling about 2.3MW and 11,000 sq ft of raised floor so far this year.