CoreSite Realty Corporation announced the purchase and planned development of a new data center campus in Secaucus, New Jersey. CoreSite is under contract to acquire a 280,000 square-foot building which will be referred to as NY2, on 10 acres of land in Secaucus, New Jersey. At full build-out, CoreSite expects NY2 will offer up to 18 critical megawatts of capacity.

In addition to NY2, the land site will support additional data center development as market demand warrants. CoreSite is under contract to acquire a 280,000 square-foot building which will be referred to as NY2, on 10 acres of land in Secaucus, New Jersey. At full build-out, CoreSite expects NY2 will offer up to 18 critical megawatts of capacity.

In addition to NY2, the land site will support additional data center development as market demand warrants. CoreSite anticipates closing on the acquisition in early February, subject to customary closing conditions, beginning construction to convert the existing building to data center specifications in the first quarter of 2013, and delivering turn-key capacity in the fourth quarter of 2013. CoreSite expects to invest $65.0 million to acquire the facility, redevelop the powered shell, and complete the initial phase of inventory consisting of 65,000 square feet.

Further, CoreSite anticipates continuing to invest in and scale the campus by constructing additional phases to meet customer demand.