Data Center REIT CyrusOne Expanding Capacity

6/22/2016 | By Sarah Borchersen-Keto

Gary Wojtaszek, president and CEO of CyrusOne (NASDAQ: CONE), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.

CyrusOne operates more than 30 carrier-neutral data center facilities across the United States, Europe and Asia.

Wojtaszek said the company has experienced a record amount of demand over the last three quarters. He noted that 70 percent of capital currently being deployed is committed to expanding existing capacity. “We’ve never been in a position like that historically,” he said.

At the same time, CyrusOne is “always looking at strategic acquisitions” as it attempts to enter new markets, Wojtaszek said.

Meanwhile, the biggest area of growth during the last 18 months has been in cloud companies, according to Wojtaszek said. The company has also been particularly successful in selling to local governments that are trying to consolidate data center needs, he added.

“Whether its school districts or 911 call centers, a lot of companies and counties and cities spend a lot of money on deploying multiple facilities. To the extent they can aggregate up those data center services and share that one resource across multiple cities, they save a lot of money,” Wojtaszek said.

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