DALLAS--(BUSINESS WIRE)--CyrusOne Inc. (NASDAQ:CONE) today announced that it has signed new leases in the second quarter to date totaling 198,000 colocation square feet, 36 megawatts of committed capacity, and $49 million in annualized GAAP revenue, a quarterly bookings record for the Company. The total contract value is $450 million, with the leases having a weighted average term of approximately nine years. The total revenue backlog of all signed, but not commenced leases has increased to nearly $100 million in annualized GAAP revenue as of the end of May.
“Our leasing results this quarter highlight the digital data revolution that is underway, and our ability to deliver ‘digital data factories’ at the fastest time to market is very appealing to web-scale companies having a difficult time forecasting and keeping pace with their customer demand,” said Gary Wojtaszek, President and Chief Executive Officer of CyrusOne.
“Since the beginning of last year we have signed leases with a contract value of more than $1.5 billion, and since the IPO the average remaining lease term of the portfolio has almost doubled to nearly four and a half years,” said Tesh Durvasala, Chief Commercial Officer. “This is the largest backlog in the company’s history and is equivalent to 25% of last year’s revenue, positioning us very well for continued growth in 2017.”
The leases are primarily for deployments in the Company’s San Antonio, Northern Virginia, and Phoenix locations. These include several build-to-suit projects that are expected to be completed in late 2016 and early 2017.
CyrusOne specializes in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for more than 945 customers, including nine of the Fortune 20 and 176 of the Fortune 1000 or equivalent-sized companies.
CyrusOne's data center offerings provide the flexibility, reliability, and security that enterprise customers require and are delivered through a tailored, customer service-focused platform designed to foster long-term relationships. CyrusOne's National IX platform provides robust connectivity options to drive revenue, reduce expenses, and improve service quality for enterprises, content, and telecommunications companies. CyrusOne is committed to full transparency in communication, management, and service delivery throughout its more than 30 data centers worldwide.