CoreSite Realty Corporation a provider of network-dense data center campuses, will invest an initial $65 million begin development of a data center campus in Secaucus, New Jersey.
The company said it is under contract to acquire a 280,000 square-foot building which will be referred to as NY2, on 10 acres of land. At full build-out, CoreSite expects NY2 will offer up to 18 critical megawatts of capacity. In addition the site will support additional data center development as market demand warrants.
CoreSite officials said they expect to invest $65 million to acquire the facility, redevelop the powered shell, and complete the initial phase of inventory consisting of 65,000 square feet. CoreSite anticipates continuing to invest in the campus by constructing additional phases to meet customer demand. Information on state job creation incentives or tax abatements the firm may qualify for was not immediately available.
"CoreSite's entry into Secaucus is an important step in the execution of our strategy to extend our U.S. platform supporting latency-sensitive customer applications in network-dense, cloud-enabled data center campuses," said Tom Ray, President and Chief Executive Officer, CoreSite. "Our New York campus is designed to meet performance-sensitive customer requirements supported by our location at the nexus of robust, protected, low-latency network rings serving Manhattan as well as global cable routes to Chicago, Frankfurt, London, and Brazil. Additionally, customers are able to connect directly to service nodes for Amazon Web Services Direct Connect."