CoreSite reported operating revenues of $162.1 million, an increase of 7.7% year over year and 2.8% sequentially. Net income was $0.59 per common diluted share, an increase of $0.07 year over year and $0.08 sequentially.
During Q2, CoreSite commenced 133 new and expansion leases for 59,174 net rentable square feet, representing $8.4 million of annualized GAAP rent, for an average rate of $142 per NRSF. CoreSite also signed 112 new and expansion leases for 33,135 NRSF and $7.8 million of annualized GAAP rent, for an average rate of $235 per NRSF.
“We are optimistic about the fundamental market drivers supporting our go-to-market strategy,” said Paul Szurek, CoreSite’s President and Chief Executive Officer. “Technology requiring low-latency, high-performance, hybrid-cloud IT architectures continues to play an increasingly important role in the success of businesses. We believe we are well-positioned to capture a good share of the edge needs in our major metropolitan U.S. markets.”
