Iron Mountain Building Presence in Northern Virginia, South Africa

Bill Meaney, president and CEO of Iron Mountain (NYSE: IRM), joined REIT.com for a CEO Spotlight video interview at REITWeek 2016: NAREIT’s Investor Forum at the Waldorf Astoria New York.

Boston-based Iron Mountain owns real estate used for storage and information management services, operating more than 1,350 facilities in 45 countries.

In May, Iron Mountain completed the $2 billion acquisition of Recall Holdings Ltd. Meaney commented on the deal, noting that “we’re well engaged in bringing the two companies together.”

Meaney also discussed the company’s expansion into Northern Virginia, a market he described as “the hottest data center market in the United States.” The company’s site in Manassas, Virginia, provides Iron Mountain with the capacity to build out 40 megawatts of data center capacity, he noted.

Iron Mountain is also expanding its global portfolio, and earlier this year it took a 75 percent stake in a South African records management company. Meaney described South Africa as a “fast-growing emerging market,” adding that Africa and the Middle East have been “kind of a blank spot in terms of our portfolio.” Meaney said Iron Mountain plans to make additional acquisitions in South Africa in order to create a “market-leading position.”

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