Summary
Equinix, Inc. (EQIX) has filed an 8-K report detailing a significant material definitive agreement. On March 27, 2014, Equinix LLC, a wholly-owned subsidiary, entered into a 15-year lease agreement for approximately 160,000 square feet of data center space located at its SV2 facility in Santa Clara, California. This lease includes two renewal options for 9.5 years each, potentially extending the occupancy to 2048. The total rent obligation over the initial 15-year term is approximately $180 million.
Key Highlights
- 1Equinix secures long-term lease for 160,000 sq ft of data center space in Santa Clara, CA (SV2).
- 2Lease term is 15 years, with two 9.5-year renewal options, extending potential occupancy to 2048.
- 3Total rent obligation over the initial term is approximately $180 million.
- 4The agreement is with Digital 1350 Duane, LLC.
- 5This move secures critical data center capacity for Equinix's operations.
- 6The CFO, Keith D. Taylor, signed the report, indicating executive oversight.