CyrusOne, a data center REIT, posted Q1 2018 revenue of $196.6 million, up 32% over the same period last year. The increase in revenue was driven primarily by a 29% increase in occupied CSF, lease termination fees totaling $5.0 million, and additional interconnection services.
The company said it leased approximately 29 MW of power and 226,000 CSF in the first quarter, representing $3.4 million in monthly recurring rent, inclusive of the monthly impact of installation charges, or approximately $40.4 million in annualized GAAP revenue5, excluding estimates for pass-through power.
In the Northern Virginia data center market, CyrusOne is leasing space as fast as it can add it.
