CoreSite

CoreSite Realty Corporation is a real estate investment trust that invests in carrier-neutral data centers and provides colocation and peering services. As of December 31, 2019, the company owned 23 operating data center facilities in 8 markets comprising over 4.6 million net rentable square feet. The properties are in Boston, Chicago, Denver, Los Angeles, Miami, New York City, Northern Virginia, San Francisco/San Jose, California, Santa Clara, California, and the Washington, D.C. areas.[1] The company has over 1,350 customers including enterprises, network operators, cloud providers, and supporting service providers.[1]

CoreSite Realty Corporation
TypePublic company
NYSE: COR
S&P 400 component
IndustryReal estate investment trust
Founded2001 (2001) (as CRG West)
HeadquartersDenver, Colorado, U.S.
Key people
 Robert G. Stuckey, Chairman
Paul E. Szurek, President & CEO
Jeffrey S. Finnin, CFO
ProductsData Centers
Revenue $572 million (2019)
$99 million (2019)
Total assets $2.100 billion (2019)
Total equity $213 million (2019)
OwnerThe Carlyle Group (22.4%)
Number of employees
464 (2019)
Websitewww.coresite.com
Footnotes / references
[1]

History

The company was founded in 2001 as CRG West at two of the West coast's original carrier hotels: Market Post Tower and One Wilshire.[2]

In August 2005, the company opened a facility in Washington, D.C.[2]

In May 2007, the company acquired properties in Boston and Chicago.[3] It also purchased a tract of land in Santa Clara, with the intent of developing a 50-megawatt data center Coronado campus there.[1]

In September 2007, the company announced the expansion of services at its Los Angeles facility.[4]

In November 2007, the company announced the expansion of services at its Miami facility.[5]

In January 2008, the company acquired a data center in Reston, Virginia.[6]

In June 2009, the company changed its name to CoreSite.[7][1]

In September 2010, the company became a public company via an initial public offering.[8]

In April 2012, the company acquired Comfluent and entered the Denver market.[9][10]

In August 2012, Coresite became the first AMS-IX enabled data center operator in North America.[11]

In October 2013, the London Internet Exchange (LINX) chose CoreSite's Northern Virginia data center campus as one of the locations for its first North American peering exchange, LINX NoVA.[12]

In May 2016, The Carlyle Group reduced its effective interest in the company to 28.9%.[13]

In July 2016, Tom Ray, the chief executive officer of the company, retired with Paul Szurek, lead independent director, to succeed Tom Ray as president and CEO.[14][15]

In August 2016, the company announced the expansion of services at its Reston, Virginia facility in conjunction with the $60 million acquisition of the 22-acre Sunrise Technology Park from Brookfield Office Properties.[16][17]

In February 2017, the company announced the expansion of services at its Washington, D.C. facility.[18]

On May 4, 2017, the company received a contract from Voxility for a large colocation deployment in Coresite’s Los Angeles and Northern Virginia data centers campuses.[19]

In October 2019, CoreSite was named a Winning "W" Company by 2020 Women of Boards for achieving at least 20% women on its corporate board before the year 2020.[20]

See also

References
  1. "CoreSite Realty Corporation 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "CRG West Opens Washington D.C.'s First Neutral Telecom Carrier Meet Me Room; 1275 K Street NW Facility Offers Unmatched Colocation and Free Interconnections for Tenant Carriers and Network Service Providers" (Press release). Business Wire. August 24, 2005.
  3. "CRG West Announces the Acquistion [sic] of Two New Properties" (Press release). Business Wire. May 1, 2007.
  4. "CRG West Expands Space and Its Colocation, Interconnection and Peering Services in Los Angeles at One Wilshire and Wilshire Annex" (Press release). Business Wire. September 20, 2007.
  5. "CRG West Announces the Expansion of the Miami Exchange, New Customer Deployment and the Addition of FiberLight's Fiber Network to the Facility" (Press release). Business Wire. November 29, 2007.
  6. "CRG West Announces the Acquisition of Data Center in Reston, Virginia" (Press release). Business Wire. January 3, 2008.
  7. "National Data Center Provider, CRG West, Unveils New Name" (Press release). Cision. June 22, 2009.
  8. "CoreSite Realty Flat in Debut". The New York Times. September 24, 2010.
  9. "CoreSite Enters Denver Market with Acquisition of Established Network-Centric Colocation Provider" (Press release). Business Wire. April 20, 2012.
  10. "CoreSite Realty buys Comfluent". American City Business Journals. April 20, 2012.
  11. "CoreSite announces relationship with AMS-IX". Data Economy. August 3, 2012.
  12. "London Internet Exchange (LINX) Selects CoreSite Data Center for First North American Peering Exchange" (Press release). PR Newswire. October 7, 2013.
  13. "CoreSite Realty Corporation Announces Sale of Common Stock by The Carlyle Group" (Press release). Business Wire. May 9, 2016.
  14. Miller, Ben (July 28, 2016). "CoreSite CEO retires, replaced by board director". American City Business Journals.
  15. "CoreSite Realty Corporation Announces Executive Leadership Transition" (Press release). Business Wire. July 28, 2016.
  16. "CoreSite to Expand Northern Virginia Campus" (Press release). Business Wire. August 11, 2016.
  17. Neibauer, Michael (August 12, 2016). "CoreSite plans big data center expansion in Reston with $60M land buy". American City Business Journals.
  18. "CoreSite Expands in Washington D.C. Market with New DC2 Data Center" (Press release). Business Wire. February 23, 2017.
  19. "Voxility Expands with CoreSite in Los Angeles and Northern Virginia to Support Strong Customer Demand" (Press release). Business Wire. May 4, 2017.
  20. "CoreSite Honored by 2020 Women on Boards". www.bloomberg.com. Retrieved 2020-03-31.
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