Iron Mountain (NYSE: IRM), a large global storage, information management services and colocation company, has signed a 27-megawatt data center hyperscale lease with a U.S.-based Fortune 100 customer in Frankfurt, Germany, at its new FRA-1 data center.
As part of the agreement, the customer will lease the entire 27 megawatt turn-key data center (approximately 280,000 square feet), with the initial 9 megawatts of power capacity to be taken upon lease commencement. The customer is committed to scaling to the full 27 megawatts of power capacity within five years. The lease is expected to commence in the second quarter of 2021, and has an initial term of ten years, with renewal options.
Iron Mountain’s FRA-1 data center is currently under construction. The FRA-1 facility is being developed in three phases, of 9 megawatts per phase, with Phase 1 expected to be complete in the second quarter of 2021. Full build-out of the data center is expected in the second quarter of 2022.
“We’re very pleased to have executed this pre-lease at our new FRA-1 data center,” said Mark Kidd, Executive Vice President and General Manager of Data Centers at Iron Mountain. “As we continue to focus on building out our platform with ground-up developments in Frankfurt and Northern Virginia, and expansions at existing data centers in Amsterdam, London, New Jersey, Northern Virginia, and Singapore, we will continue to identify the right hyperscale opportunities that enhance our strong core enterprise retail colocation ecosystem.”
Data Center Frankfurt
Iron Mountain’s Frankfurt data center is designed with “state-of-the-art” specifications, offering dark fiber availability, allowing for increased interconnection options and low latency connectivity.
With the execution of the hyperscale lease in Frankfurt and the strength in first-quarter leasing activity, Iron Mountain now expects to significantly exceed its previous leasing target for new and expansion signings of 15 to 20 megawatts for full-year 2020.
Frankfurt is a top global data center market and the second largest in the European FLAP region. The market is home to one of the world’s largest internet exchanges, DE-CIX, a peering exchange with hundreds of large networks available for customers.
“We’re excited for the opportunity to serve as a strategic partner to an important Fortune 100 company,” said Eric Boonstra, Vice President & GM Western Europe, Data Centers at Iron Mountain. “We are building upon our already strong European data center offerings to provide even more flexible, scalable options for customers now and into the future.”
Data Centers Amsterdam, London
Iron Mountain’s global data center platform consists of 14 operational facilities across 13 markets and three continents. Including leasable capacity and land and buildings held for future development, Iron Mountain’s data center platform can support more than 350 megawatts of IT capacity at full build-out.
In addition to Frankfurt, Iron Mountain’s European footprint includes data center campuses in Amsterdam and London. Strategically located in the heart of the Amsterdam region, one of the world’s largest network ecosystems, Iron Mountain’s AMS-1 data center campus now has 12 megawatts of capacity, with the ability to expand its campus footprint by more than 20 incremental megawatts. Iron Mountain is currently expanding the campus, adding 1.7 megawatts of capacity, of which 18% is pre-leased, reflecting strong demand from both new and existing data center customers. One of the most highly connected campuses in the market, AMS-1 would offer its customers easy access to 50+ on-site carriers and AMS-IX and NL-IX Points-of-Presence, providing low latency and carrier neutral connectivity options for custom solutions.
Located in the Slough Trading Estate, Iron Mountain LON-1 is a highly secured, purpose-built data center, with its existing capacity 74% leased, including to one of the largest banking institutions in the world. Iron Mountain is building out an additional 2.0-megawatt data hall in LON-1 to support “robust” demand, with an additional 2.0 megawatts of capacity held for future development at that site.
In the fourth quarter of 2019, Iron Mountain entered into an agreement for a second site in Slough which will expand its presence in the London market by adding an incremental 25 megawatts of capacity for future development. Iron Mountain LON-2 is adjacent to the existing footprint at LON-1, and provides capacity to meet the demand for larger requirements in a very desirable market with low latency network connectivity.