CyrusOne to Build Chicagoland Data Center
It’s getting cold in Chicagoland, but apparently not icy enough to stop construction there. Indeed, colocation company CyrusOne yesterday said it’s just broken ground on its new data center build there.
The company is erecting a 425,000-square-foot facility on its campus in suburban Aurora. This effort will help CyrusOne better service its customers in global financial markets.
“Breaking ground on this new data center marks another milestone for us as we solidify our leadership position in the financial services market and enhance our services for enterprise and cloud customers,” said CyrusOne CTO Kevin Timmons. “Upon completion, our new state-of-the-art data center will provide needed data center space and provide customers with expanded cloud connectivity. In addition, the City of Aurora has been a valued partner for CyrusOne, and as one of the preeminent data center providers in Illinois, we are excited to expand our activities with the community by creating new local jobs.”
CyrusOne purchased the land on which the new data center will reside back in March. That land acquisition was part of a sale-leaseback transaction with CME Group.
Thirty-five carrier-neutral data center facilities across Asia, Europe, and United States are operated by CyrusOne. The Aurora, Ill., data center build is just the last new facility for CyrusOne. In October, the company announced plans to purchase in Sterling, Va., as part of its expansion plans.
CyrusOne, which prides itself on building hyper cloud scale data centers in record time, serves nine of the Fortune 20, and 180 of the Fortune 1000, customers, among others. The company got its start in 2001, was acquired in 2010 by Cincinnati Bell, and spun off in a public offering in January of 2013. CyrusOne bought data center operator Cervalis Holdings in July of 2015. And just last month CyrusOne increased its revolving credit facility to $1 billion.
"The more than 50 percent increase in capacity under our revolving credit facility, coupled with the extension of the facility's maturity dates, provides us substantial financial flexibility and liquidity to fund the strong growth outlook for our business at very attractive interest rates," said CFO Diane Morefield. "Combined with the $214 million forward equity available to us through Aug. 1, 2017, this transaction positions us very well to meet our financing requirements."
Edited by Maurice Nagle
