CoreSite has raised $150M in a debt offering, via a private placement to accredited investors. According to CoreSite, the 3.75 percent Senior Notes are due in 2027. The company said the proceeds of the financing will go to refinance existing debt and for general corporate purposes.
Country: United States
Region: North America
Address: 550 W 14th Place, Chicago, IL 60607
Estimated Construction Completion Date: 03/01/20
Utility Provider: Commonwealth Edison
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In Feburary 2018, CoreSite acquired a two-acre land parcel in downtown Chicago, Illinois, on which CoreSite expects to build CH2, a greenfield development of a 175,000-square-foot, turn-key, four-story data center supporting 18 critical megawatts of power capacity.
CoreSite currently expects to commence construction on CH2 at the end of 2018 or the beginning of 2019, with timing dependent upon the receipt of necessary entitlements and permits. CoreSite expects to construct the building in three phases, consisting of 6 megawatts of capacity per phase, with a total estimated cost of $190 to $210 million at full build-out.
CoreSite’s CH2 enterprise-class data center will be located one mile from its existing CH1 facility and network node, and CoreSite plans to connect the two sites via diverse, high-count, dark fiber to create the type of campus interconnectivity most valued by its scale customers. CoreSite’s centralized downtown location, adjacent to the Board of Trade, continues to differentiate its data center offering, providing access to exceptionally low-latency connections for the many financial, healthcare, and media companies in this market. Source: CoreSite Press Release
A dedicated onsite vault was built for ComEd