Signs New Lease in Chandler, AZ Facility Containing Anchor Tenant Bank of America
INAP adds Second Footprint in Key Strategic Market
RESTON, Va., July 30, 2018 (GLOBE NEWSWIRE) -- Internap Corporation (NASDAQ:INAP), a leading provider of high-performance data center services including colocation, cloud, and network, is significantly expanding its presence in Phoenix, a booming, rapidly growing U.S. data center market, through a master lease for a Tier 3 design data center located at 2500 West Frye Road in Chandler, AZ. A leading private real estate partner recently acquired the property, and a Fortune 100 financial services company will remain the anchor tenant. Through this long-term lease, INAP expands its Phoenix footprint, adding approximately 200,000 gross square feet with up to 10 MW of highly redundant critical power capacity in the 4th fastest growing net power absorption market.
“We are extremely excited to establish a flagship presence fully controlled by INAP, including Bank of America as the anchor tenant. This expansion adds much needed capacity in the vibrant and highly strategic Phoenix/Chandler market,” stated Corey J. Needles, INAP U.S. Sr. Vice President and General Manager. “This facility gives INAP a powerful competitive position within this market, requires no upfront cash investment, enabling us to light customers on day one to support growth, and is a great location that gives us options for potential consolidation of our currently 100% utilized Phoenix footprint. We expect increasing contribution from this key market going forward.”
The new Chandler data center offers some of the most robust security, electrical and mechanical infrastructure in the market today. Phoenix is a major destination for new investment and migration by companies, particularly from California, looking to improve their disaster recovery. The State of Arizona has also created a favorable tax environment specifically for data center operations through the use of tax incentives, which is drawing hyper-scalers to its major markets and benefits INAP in turn.
About Internap Corporation
Internap Corporation (NASDAQ:INAP) is a leading provider of high-performance data center services, including colocation, cloud and network. INAP partners with its customers, who range from the Fortune 500 to emerging start-ups, to create secure, scalable and reliable IT infrastructure solutions that meet the customer’s unique business requirements. INAP operates in 58 primarily Tier 3 data centers in 21 metropolitan markets and has 99 POPs around the world. INAP has over 1 million gross square feet under lease, with over 500,000 square feet of data center space. For more information, visit, www.inap.com.
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Source: Internap Corporation