Data Center REIT CoreSite Seeing Organic Demand Growth

Paul Szurek, president and CEO of CoreSite Realty Corp. (NYSE: COR) joined Nareit for a video interview at REITworld 2017.

CoreSite delivers secure, reliable, high-performance data center and interconnection solutions across eight North American markets.

Szurek highlighted the importance of organic demand for CoreSite, noting that it accounts for almost all of the company’s growth since it went public seven years ago. With the exception of a single $4 million acquisition, CoreSite has focused on development, attracting new customers and expanding with existing customers, Szurek said.

“It’s why we’re able to grow our asset base at replacement cost instead of having to go out and buy assets at substantial premiums in order to keep our growth going,” Szurek said.

CoreSite’s strongest markets include Northern California, Los Angeles, New York, New Jersey and Northern Virginia, according to Szurek. The company will continue to build out new facilities in 2018, he said.

Szurek also noted that CoreSite’s enterprise-grade facilities meet the needs of its diverse customer base for scalability, high density and flexibility.