QTS breaks ground on 250MW data centre campus
QTS Realty Trust, Inc. (NYSE: QTS) has reported its full year results for 2019 with a 6.7% increase in revenues taking the business closer to the $500 million club of data centre operators.
QTS Realty Trust, Inc. (NYSE: QTS) has announced that it has commenced development of a new large data centre campus in Hillsboro, Or.
The initial development will feature construction of a 158,000 square foot data centre encompassing 85,000 square feet of leasable capacity and 27 megawatts of gross power capacity. The 92-acre site can ultimately support the construction of five data centre buildings totaling approximately 1.5 million gross square feet encompassing more than 1 million square feet of leasable capacity and more than 250 megawatts of gross power capacity.
QTS has pre-leased 100% of the first phase of development at the site to a global software-as-a-service provider representing approximately 4.5 megawatts. No further details on the client have been shared.
The company expects to formally open and commission the first phase of development in Hillsboro in mid-2020 with additional power capacity available for customers in the second half of 2020.
QTS anticipates having 100% renewable energy available for customers upon opening its Hillsboro facility in mid-2020, as part of its commitment to provide 100% renewable power across all of its data centres by 2025.
Hillsboro is host to many high-tech companies. It has become an increasingly attractive alternative destination to Silicon Valley, earning it the nickname "Silicon Forest" as it grows into a trans-Pacific hub for data centre connectivity and companies with business in Asia.
QTS has also released its full year results for 2019 with total revenue growing 6.7% year-on-year to $480.8 million, up from 2018’s $450.5 million.
The Kansas-based provider generated $250.4 million of Adjusted EBITDA during 2019, an increase of 14.8% compared to Core Adjusted EBITDA of $218.1 million during 2018.
Chad Williams, Chairman and CEO of QTS, said: "2019 represented another year of strong execution for QTS highlighted by a record-setting leasing performance in both the fourth quarter and full-year. We were pleased to close out 2019 with a $93 million booked-not-billed backlog which provides solid momentum and visibility into another year of strong growth in 2020.”