CyrusOne Cites Cloud Computing as Driving Force Behind Growth

Gary Wojtaszek, president and CEO of CyrusOne (NASDAQ: CONE), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.

Wojtaszek commented on the data center REIT’s record earnings performance during the past five quarters, which he attributed to the growth of cloud computing.

“That’s been the unbelievable story for us. It’s a vertical that we started focusing on two years ago, and as of the end of the year, we had nine of the top 10 largest cloud companies,” Wojtaszek said.

Wojtaszek also commented on CyrusOne’s plans to meet the growing level of demand for space.

After having sold out of space in four key markets, CyrusOne has capacity coming on line in the third quarter, Wojtaszek said. The added capacity will “really help drive growth into 2018,” he noted.

As more companies become comfortable with cloud and enterprise solutions, deal sizes are becoming “enormous,” according to Wojtaszek.

“Customers are more and more comfortable trusting us to manage their critical data center assets and are willing to back that up with longer-term contracts with us,” Wojtaszek said.