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CoreSite Issues Annual Corporate Sustainability Report

·6 min read

– Customers, Colleagues and Communities –

CoreSite Realty Corporation (NYSE:COR) (the "Company" or "CoreSite"), a premier provider of secure, high-uptime data center campuses with high-performance cloud access and interconnection solutions in major U.S. metropolitan areas, today announced it has issued its "2020 Corporate Sustainability Report," which is posted on the Company’s website.

""Customers, Colleagues, and Communities" describe the symbiosis of our business strategy with our sustainability practices," said Paul Szurek, CoreSite’s President and Chief Executive Officer. "In our most recent annual Corporate Sustainability Report, we summarize another year in our journey of being a responsible steward for all of our stakeholders. We remain committed to being customer champions, people centered, and efficiency focused as we serve our corporate purpose of providing trusted and connectivity-rich data communities that power our customers’ digital transformations toward a more collaborative world."

2020 Corporate Sustainability Report Highlights

Customers – CoreSite’s energy efficient data center campuses with high uptime and high-performance connectivity

CoreSite provides superior reliability and seeks the least carbon-intensive energy generation sources consistent with its customers’ economic goals and the options permitted in its markets. As part of those objectives, CoreSite’s 2020 accomplishments include –

  • maintaining fully operational data centers throughout the pandemic with safety protections for our essential staff and customers at all sites,

  • achieving "seven 9s" of power and cooling uptime across its platform of data center facilities, more than ninety percent of which operated at 100% uptime,

  • Implementing new customer deployments "on time" 96.0% of the time at an average satisfaction rating of 4.58 out of 5.00, and

  • decreasing its energy intensity per million dollars of revenue and maintaining carbon intensity per net rentable square foot compared to 2019, while expanding its operational footprint.

Colleagues – A culture of respect, responsibility, transparency, innovation and operational excellence

CoreSite continues to shape its culture by empowering its employees and valuing their diversity and leadership, ultimately driving the Company’s success and that of its stakeholders. Key metrics for 2020 include –

  • increasing the participation in its employee engagement survey by 8% compared to 2019,

  • decreasing voluntary attrition to 9.0% from 10.8% in 2019, well below the U.S average of 14.0%, and

  • being recognized as one of the top places to work in the Bay Area in 2020 and at its Denver headquarters in 2021.

Communities – Ecosystems of customers who work seamlessly with each other

CoreSite strives to enhance its strong data center ecosystems to provide its community of customers with agile collaborative opportunities in their IT journeys while engaging with its local communities. Highlights from CoreSite’s community involvement in 2020 include –

  • providing 305.5 hours of volunteer service by its headquarters employees despite COVID-19 related limitations,

  • providing $56,000 worth of volunteer hours to Brother’s Redevelopment Paint-A-Thon recipients over the last eight years, and

  • matching employee contributions to community organizations resulting in $305,000 in total donations to benefit the communities in CoreSite’s eight markets, of which $58,000 were contributed to 15 COVID-19 relief funds.

"2020 proved to be challenging for the entire world. I’m proud of, and grateful to, our team for rising to the challenge by keeping themselves and customers safe, overcoming obstacles with diligence and agility, helping alleviate stress in local communities, and continuing to build campus platforms that advance our company’s purpose and strategy." Paul Szurek stated.

About CoreSite

CoreSite Realty Corporation (NYSE:COR) delivers secure, high-uptime data center campuses with high-performance cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 475+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "pro forma," "estimates" or "anticipates" or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the level of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; the effects on our business operations, demand for our services and general economic conditions resulting from the spread of the Novel Coronavirus ("COVID-19") in our markets, as well as orders, directives and legislative action by local, state and federal governments in response to such spread of COVID-19; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210607005081/en/

Contacts

Kate Ruppe
Investor Relations Manager
303-222-7369
InvestorRelations@CoreSite.com