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Digital Realty Acquires Redevelopment Property for $16.8M

November 27, 2012
San Francisco-based Digital Realty Trust, Inc. (NYSE: DLR) has acquired 701 Union Blvd. in Totowa, NJ, a 271,000-square-foot property on 34.3 acres about 20 miles west of the George Washington Bridge.

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With the data center developer's current portfolio in the New York metro market nearing capacity, the new site enables the firm to add inventory to meet future demand, and its location also adds geographic diversity for customers looking to deploy mission-critical business applications outside of Manhattan, said Michael F. Foust, CEO of Digital Realty.

Digital Realty plans to redevelop the existing building to accommodate 15.75 megawatts of critical IT load. Existing area substations will be utilized to supply power to the initial phase of redevelopment. For future phases, the Company plans to construct a 50 MVA onsite substation to support the development of additional data center capacity at the site.
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