Operations
As of December 31, 2016, the company owned 11 operating data center facilities comprising over 3.3 million net rentable square feet. [1] Eight of the properties were in Northern Virginia, two were in Elk Grove Village, Illinois, and one was in Santa Clara, California. [1]
The company leased space to companies, on a wholesale level, in which such companies rented space to build their own data centers. [2]
The company had 32 customers and derived 92% of its revenue from its 15 largest customers. [1] The company's largest customers included Microsoft (25.4% of revenue), Facebook (20.2% of revenue), Rackspace (9.0% of revenue), and Yahoo! (6.0% of revenue). [1]
History
The company was co-founded by Lammot J. du Pont, an analyst for JPMorgan Chase and Hossein Fateh, a real estate developer in the Washington metropolitan area. [3] The company sought to acquire data centers that belonged to defunct internet service providers. [3]
In 2004, the company's predecessor acquired 5 data centers from Savvis for $52 million in a leaseback transaction. [4]
In 2005, the company's predecessor acquired a 230,000 square foot data center from AOL for $58.5 million. [5]
On March 2, 2007, the company was incorporated as a real estate investment trust. [1]
In October 2007, the company became a public company via an initial public offering that raised $640 million, the 7th largest initial public offering of a real estate investment trust at that time. [6]
In early 2008, the company halted construction projects due to a lack of financing. [7]
In 2009, the company was named as the fastest growing company in the Washington metro area by American City Business Journals. [8]
In February 2011, Mohammed Mark Amin resigned from the board of directors and was replaced by John T. Roberts Jr. [9]
In 2012, Hossein Fateh, the chief executive officer of the company, forgone his $450,000 salary in exchange for use of the company jet. [10]
In 2012, the company reported that the volume of leasing was the largest in company history. [11]
In May 2012, Mohammed Mark Amin, formerly a director of the company, was accused by the U.S. Securities and Exchange Commission of making a $618,000 profit as a result of insider trading in the company's securities. [12] [13] [14]
In September 2014, the company opened a new data center in Ashburn, Virginia. [15]
In February 2015, Christopher P. Eldredge was named chief executive officer of the company. [16]
In March 2015, the company won the Brill Award For Data Center Design issued by Uptime Institute. [17]
In March 2016, the company acquired a 46.7 acre parcel of land in Hillsboro, Oregon for $11.2 million. [18] [19]
In June 2016, the company sold a 38-acre data center in New Jersey to Quality Technology Services for $125 million. [20] [21]
In October 2016, the company acquired the former printing plant of the Toronto Star for C$54.25 million, with plans to convert it to a data center. [22] [23]
In May 2017, the company acquired a 56.5-acre undeveloped site in Mesa, Arizona with plans to construct a data center campus. [24]
In September 2017, the company was acquired by Digital Realty. [25] [26]
$0.528 billion (2016) [1]