SAN FRANCISCO, July 11, 2018 /PRNewswire/ -- GI Partners
has announced that it has renewed and expanded CoreSite's lease in
the One Wilshire building, located at 624 S. Grand Avenue in Los
Angeles. CoreSite, a premier provider of secure, reliable,
high-performance data center and interconnection solutions across
the U.S., has renewed its existing 162 thousand square feet of
space in the building for seven years, and it has expanded into an
additional 17 thousand square feet in order to continue to provide
high-performance data center solutions to its customers in one of
the one of the most network-dense data centers in the world. As
part of CoreSite's renewal and expansion at One Wilshire, CoreSite
extended the term of its original lease by seven years to 2029, and
maintains its three, five-year renewal options, with control over
its space through 2044.
With its presence in One Wilshire, CoreSite manages and has full
control over the building's Meet-Me-Room, which is home to more
than 240 network-service providers, offering multiple options for
interconnection, network resiliency and low-latency connectivity to
customers.
Separately, GI Partners has also announced that with CoreSite's
expansion, along with prior commitments through previous tenants,
Phase I of GI Partners' One Wilshire master infrastructure plan is
now approximately 60% pre-leased. Phase I of the master
infrastructure plan will bring nine additional megawatts of utility
power to One Wilshire, along with associated cooling and emergency
power generator infrastructure. At Phase I's completion, One
Wilshire will have a total utility capacity of 30 megawatts, with
potential to expand in further phases to 47 megawatts.
"We are pleased to work with CoreSite, our largest tenant, on
its expansion at One Wilshire and we are very proud of our long
relationship with CoreSite's world-class team," said Tony Lin, Director at GI Partners. "One
Wilshire has earned a reputation as one of the most comprehensive
United States network gateways to
Asia and West Coast
interconnection environments, and CoreSite's continued presence at
the property helps to anchor that reputation."
About One Wilshire
One Wilshire, owned by GI Partners and managed by GI Partners'
affiliate, GI Property Management, is the preeminent point of
connectivity between North America
and Asia, making it one of the
most significant carrier hotels in the world. Customers are able to
connect to over 240 carriers within the building, along with nearly
110 cloud and IT service providers. Together with KOMO Plaza
in Seattle, GI Partners is able to
offer unmatched carrier neutral connectivity to all major
telecommunications and cloud providers along the West
coast.
About GI Partners
GI Partners is a leading private investment firm based in
San Francisco, California. The
firm has raised over $16 billion in
capital through private equity and real estate strategies from
recognized institutional investors across the world. GI Partners'
real estate team invests across a number of property types and
investment strategies, including platforms focused on
logistics-based warehouse and distribution facilities,
transit-oriented multifamily development, and technology-advantaged
properties. For more information on GI Partners, please visit
www.gipartners.com.
About CoreSite
CoreSite Realty Corporation (NYSE: COR) delivers secure,
reliable, high-performance data center and interconnection
solutions to a growing customer ecosystem across eight key North
American markets. More than 1,250 of the world's leading
enterprises, network operators, cloud providers, and supporting
service providers choose CoreSite to connect, protect and optimize
their performance-sensitive data, applications and computing
workloads. Our scalable, flexible solutions and 450+ dedicated
employees consistently deliver unmatched data center options — all
of which leads to a best-in-class customer experience and lasting
relationships. For more information, visit www.coresite.com.
Media
Contact:
|
Investor
Relations:
|
Chris
Tofalli
|
Caroline
Schimmelbusch
|
Chris Tofalli Public
Relations
|
415-688-4800
|
914-834-4334
|
caroline@gipartners.com
|
chris@tofallipr.com
|
|
View original
content:http://www.prnewswire.com/news-releases/gi-partners-renews-and-expands-coresites-one-wilshire-lease-300679810.html
SOURCE GI Partners