DuPont Fabros Technology, Inc. ACC6 Data Center is 100% Leased
WASHINGTON, Nov. 12, 2012 /PRNewswire/ -- DuPont Fabros Technology, Inc. (NYSE: DFT) announced today that the Company's ACC6 data center located in Ashburn, Virginia is 100 percent leased. ACC6 is constructed in two phases totaling 262,000 gross square feet, 130,000 raised square feet and 26 megawatts of critical load. Phase I was delivered in September 2011 and Phase II is scheduled to open on January 1, 2013.
The Company recently executed a pre-lease in Phase II for 4.33 megawatts filling the remaining vacancy in the building. This pre-lease is with an existing tenant on our Ashburn campus. ACC6 Phase II is expected to have 67 percent of the megawatts commencing in the first quarter of 2013 with the remaining 33 percent commencing in the third quarter of 2013. Upon the opening of Phase II, ACC6 will have a total of six tenants with an average weighted lease term remaining of 11.3 years and will achieve a 12 percent unlevered GAAP return on invested capital, based on the terms of all the ACC6 leases.
"Demand for our data centers in Northern Virginia continues to be strong. We expect that ACC6 Phase II will be delivered on time and budget, and it is now 100 percent pre-leased before opening," commented Hossein Fateh, President and Chief Executive Officer of DuPont Fabros Technology (DFT), Inc. "We are pleased to provide additional space to this tenant, while achieving our previously stated target return on our invested capital for this property."
About DuPont Fabros Technology, Inc.
DuPont Fabros Technology, Inc. (NYSE: DFT) is a leading owner, developer, operator and manager of large multi-tenanted wholesale data centers. The Company's facilities are designed to offer highly specialized, efficient, carrier-neutral and safe computing environments in a low-cost operating model. The Company's customers outsource their mission critical applications and include national and international enterprises across numerous industries, such as technology, Internet content providers, media, communications, cloud-based, healthcare and financial services. The Company's ten data centers are located in four major U.S. markets, which total 2.4 million gross square feet and 205 megawatts of available critical load to power the servers and computing equipment of its customers. DuPont Fabros Technology, Inc., a real estate investment trust (REIT) is headquartered in Washington, DC. For more information, please visit www.dft.com.
Certain statements contained in this press release may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The matters described in these forward-looking statements include expectations regarding future events, results and trends and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond the company's control. The company faces many risks that could cause its actual performance to differ materially from the results contemplated by its forward-looking statements, including, without limitation, the risks commonly associated with construction and development of new facilities (including delays and/or cost increases associated with the completion of new developments), and the risks associated with the timing of the commencement of leases. The periodic reports that the company files with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 2011 and its quarterly reports on Form 10-Q for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012, contain detailed descriptions of these and many other risks to which the company is subject. These reports are available on our website at www.dft.com. Because of the risks described above and other unknown risks, the company's actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by its forward-looking statements. The information set forth in this news release represents management's expectations and intentions only as of the date of this press release. The company assumes no responsibility to issue updates to the contents of this press release.
SOURCE DuPont Fabros Technology, Inc.