QTS Inks 24 Megawatt Deal in Manassas, VA & Acquires 61 Acres of Land

Mar 2, 2018
by Josh Anderson

OVERLAND PARK, KS — QTS Realty Trust has signed a 24 megawatt data center lease with a global cloud-based software company, according to a new press release by the company. The un-named customer will lease the full 24 megawatt-powered shell up front, and will also lease approximately five megawatts of turn-key data center capacity within the shell upon lease commencement of the lease. The customer is also expected to sign future commitments, scaling to the full 24 megawatts of turn-key power capacity over the next two years. The initial lease will commence in Q1 2019.

In conjunction with the deal, QTS has closed on the acquisition of 61 acres of undeveloped land in Manassas, VA, that will support this deployment. Ultimately, QTS believes the site can support a total of more than 85 megawatts of gross power. This powered shell approach and gradual turn-key development enables QTS to support this new customer’s needs within a disciplined capital plan.

“QTS is pleased to expand our support of one of the world’s leading software companies,” said Chairman and Chief Executive Officer of QTS, Chad Williams. “This announcement reinforces our ability to execute on one of the Company’s core strategies and serve as a strategic partner to the world’s largest and fastest growing technology companies. The Hyperscale vertical is a key component to the data center ecosystem and a foundational part of QTS from the very outset.”

This news comes on the heels of a recently announced strategic plan by QTS, in which it will align its business around its two primary drivers of demand, Hyperscale and Hybrid-Enabled Colocation. The Hyperscale vertical has been a focus of QTS since its inception enabled by the Company’s mega data center infrastructure, innovative technology and expertise. This lease signing represents a significant accelerant to QTS’ momentum within Hyperscale.

The purchase of land in Manassas, Virginia, is also the second major acquisition by QTS in Northern Virginia in recent memory. They purchased 52 acres in Ashburn — these two acquisitions combine with their existing Dulles data center to mark a major investment in the Northern Virginia market.

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