Technology Stocks : Investing in Exponential Growth

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From: Paul H. Christiansen12/29/2017 1:58:59 PM
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Half a Million Square Feet of Amazon Data Center Space Under Construction in Virginia

Amazon Web Services commands more than one-third of the cloud infrastructure services market, which judging by the latest round of quarterly earnings reports continues to grow at a breakneck pace. Supporting that growth requires a lot of data center space, which Amazon’s cloud business is adding hundreds of thousands of square feet at a time.

Just in Northern Virginia – one of the world’s largest data center markets and already home to the largest Amazon data center cluster – a developer has close to half a million square feet of new data center space under construction for Amazon. The cloud giant already leases 1.9 million square feet of operational data center space in the region from Corporate Office Properties Trust, the developer, according to a recent COPT regulatory filing.

Northern Virginia is the most desirable data center location in North America. Particularly in recent years, data center providers in the market have been barely able to keep up with demand there, coming primarily from large cloud infrastructure providers and other companies that run hyper-scale cloud platforms. It’s desirable because of relatively low energy rates and data center-friendly local officials but also, and primarily, because of the sheer volume of data centers and networks already there – connectivity options that put companies with presence in Northern Virginia at an advantage.

The document doesn’t name Amazon, referring only to “an existing tenant.” But according to multiple industry sources, the tenant is Amazon, which uses COPT as its data center builder and landlord in Northern Virginia, leasing from it powered-shell buildings it fits out with data center infrastructure on its own.
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