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CoreSite launches SV7 data centre in Santa Clara

Thu 13 Oct 2016

CoreSite Realty Corporation has opened its fifth data centre build at the company’s Santa Clara campus. The new building is the largest of CoreSite’s emplacements and occupies 230,000 square feet out of the company’s 619,000 square feet holdings in the Bay Area.

The entire complex has more than 200 clients across social media, entertainment, cloud providers and enterprise.

CoreSite CEO Paul Szurek commented:

“We are pleased to announce the opening of SV7, which underlines our commitment to our continued growth in the important Silicon Valley market… Santa Clara remains one of the top markets in the U.S., with strong data centre demand driven by growth in the deployment of leading technology products and services, and we believe that our SV7 development provides a differentiated colocation solution to this robust market.”

Increased demand for data centre capacity in San Francisco’s Bay Area has been fuelled by the emergence of the region as one of the centres of the cloud and technological innovation revolution of the last 5-6 years, and CoreSite began to demonstrate its commitment to meeting this growing need in 2015 with the upscaling of development plans for the Santa Clara campus.

The location is a popular choice for local tech hubs due to its proximity to the most capacious internet peering exchange on the west coast.

SV7 will provide native connectivity to AWS Direct Connect, as well as access to the company’s suite of services, including the CoreSite Open Cloud Exchange, and the Any2 Internet Peering exchange.

The SV7 opening coincides with the uprating of CoreSite from ‘Market Perform’ to ‘Outperform’, in a report released on Tuesday. SunTrust Banks Inc. began coverage in July, issuing a ‘Buy’ rating around the $100 target, with the rating affirmed by Jefferies Group, who uprated its target buy from $50 to $60. The company is set to release its Q3 financial results before market opening on 27th October, followed by a quarterly conference for investors.


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