DuPont Fabros Technology, Inc. is reporting that during its second quarter, it executed eight new triple-net leases and a renewal of one triple-net lease totaling 17.66 MW of critical load and 110,400 raised sq ft with an average lease term of 9.0 years. Included in the total is a new pre-lease at NJ1 Phase I totaling 1.14 MW of critical load and 5,400 raised sq ft with a lease term of 10.1 years.
These leases represent approximately $337 million of contract value to the company. As of the date of this press release, the company's stabilized operating portfolio's critical load is 100 percent leased and, for the new developments yet to be completed in 2010, ACC5 Phase II is 88 percent pre-leased and NJ1 Phase I is 6 percent pre-leased.
NJ1 Phase I in Piscataway, NJ, and ACC5 Phase II in Ashburn, VA, were placed into development in December 2009 and the company currently expects each to be completed in the fourth quarter of 2010. SC1 Phase I in Santa Clara, CA, and ACC6 Phase I in Ashburn, VA, were placed into development in May 2010 and the company currently expects each to be completed during the third quarter of 2011.