QTS Lands Tenant for 24MW in Virginia
- Mar 05, 2018
QTS Realty Trust has found a new hyperscale client for one of its data centers in Manassas, Va. The new tenant, a global cloud-based software company, signed a lease for 24 megawatts, occupying the entire powered shell.
The cloud provider will initially lease approximately five megawatts upon commencement, within the first quarter of 2019, scaling to the full capacity gradually over the next two years. QTS also acquired a 61-acre plot of undeveloped land, which the company expects to support the new deployment.
QTS expects to deliver a total of 85 megawatts at the Virginia hyperscale facility, after construction will be completed on the new land. According to a report published by ReportsNReports last year, demand for hyperscale capacity will keep growing, and is expected to reach around $359 billion by 2023.
“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 onset,” said Chad Williams, president & CEO of QTS, in a prepared statement.