Iron Mountain Executes Six Megawatt Pre-Lease with Fortune 100 Customer at AZP-2 Data Center in Phoenix

Posted 9/24/20

BOSTON--(BUSINESS WIRE)--Sep 24, 2020--

Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, today announced that it has signed a six megawatt data …

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Iron Mountain Executes Six Megawatt Pre-Lease with Fortune 100 Customer at AZP-2 Data Center in Phoenix

Posted

BOSTON--(BUSINESS WIRE)--Sep 24, 2020--

Iron Mountain Incorporated (NYSE: IRM), the storage and information management services company, today announced that it has signed a six megawatt data center pre-lease with a U.S.based Fortune 100 customer in Phoenix, Arizona, at its new AZP-2 data center. The lease is expected to commence in the third quarter of 2021. The data center solution met all of the customers’ requirements, including scalable capacity, network proximity to other deployments, and a design that provided flexibility and reliability.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200924005106/en/

Iron Mountain's AZP-2 Data Center in Phoenix, Arizona. (Photo: Business Wire)

AZP-2 is a hyperscale-ready data center powered by 100% renewable energy. The three-story purpose-built facility will span more than 530,000 gross square feet, and deliver 48 megawatts of total IT capacity at full build out, with campus connectivity to the existing 47 megawatts operating at AZP-1 in Phoenix and AZS-1 in Scottsdale, leveraging the network density of the existing ecosystem.

Including land held for future development, the 40-acre Phoenix campus should support more than 100 megawatts of IT load when fully developed. The highly secure campus offers Iron Mountain Data Center customers access to reliable and energy efficient data center capacity in one of the lowest risk U.S. metros for natural disasters. The addition of this hyperscale lease complements Iron Mountain’s Phoenix data center campus that currently includes a wide range of core retail enterprise and hyperscale colocation customers.

“We are pleased to add a new strategic anchor customer to AZP-2, while providing our customer with a secure, reliable and high-performance data center solution,” said Michael DeVito, Senior Vice President of Global Sales and Marketing at Iron Mountain Data Centers. “This announcement further solidifies our strong market position, differentiated product offering, and most importantly our ability to serve as a strategic partner to the world's largest companies.”

Additional highlights of the Phoenix data center campus include:

Iron Mountain's global data center platform consists of 15 operational facilities across 13 markets and three continents. Including leasable capacity and land and buildings held for future development, Iron Mountain's data center platform can support more than 350 megawatts of IT capacity at full build-out. For more information on Iron Mountain Data Centers, visit https://www.ironmountain.com/digital-transformation/data-centers.

Iron Mountain Incorporated (NYSE: IRM), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across more than 1,480 facilities in approximately 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include secure records storage, information management, digital transformation, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a more digital way of working. Visit www.ironmountain.com for more information.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not, limited to statements concerning the commencement of the lease and datacenter capacity at full buildout. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations.

These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. Important factors that could cause actual results to differ from expectations include (i) the impact of the COVID-19 outbreak on our business, operations and financial condition, (ii) our ability to remain qualified for taxation as a real estate investment trust for U.S. federal income tax purposes; (iii) the adoption of alternative technologies and shifts by our customers to storage of data through non-paper based technologies; (iv) changes in customer preferences and demand for our storage and information management services; (v) the cost and our ability to comply with laws, regulations and customer demands relating to data security and privacy issues, as well as fire and safety standards; (vi) our ability or inability to execute our strategic growth plan, expand internationally, complete acquisitions on satisfactory terms, and to integrate acquired companies efficiently; (vii) changes in the amount of our growth and recurring capital expenditures and our ability to raise capital and invest according to plan; (viii) the impact of litigation or disputes that may arise in connection with incidents in which we fail to protect our customers' information or our internal records or IT systems and the impact of such incidents on our reputation and ability to compete; (ix) our ability to execute on Project Summit and the potential impacts of Project Summit on our ability to retain and recruit employees and execute on our strategy (x) changes in the price for our storage and information management services relative to the cost of providing such storage and information management services; (xi) changes in the political and economic environments in the countries in which our international subsidiaries operate and changes in the global political climate; (xii) the impact of executing on our growth strategy through joint ventures; (xii) our ability to comply with our existing debt obligations and restrictions in our debt instruments or to obtain additional financing to meet our working capital needs; (xiv) the impact of service interruptions or equipment damage and the cost of power on our data center operations; (xv) changes in the cost of our debt; (xvi) the impact of alternative, more attractive investments on dividends; (xvii) the cost or potential liabilities associated with real estate necessary for our business; (xviii) the performance of business partners upon whom we depend for technical assistance or management expertise; (xix) other trends in competitive or economic conditions affecting our financial condition or results of operations not presently contemplated; and (xx) other risks described more fully in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our periodic reports or incorporated therein. You should not rely upon forward-looking statements except as statements of our present intentions and of our present expectations, which may or may not occur. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View source version on businesswire.com:https://www.businesswire.com/news/home/20200924005106/en/

CONTACT: Investor Relations Contacts:

Greer Aviv

Senior Vice President, Investor Relations

Greer.Aviv@ironmountain.com

(617) 535-2887Nathan McCurren

Director, Investor Relations

Nathan.McCurren@ironmountain.com

(617) 535-2997

KEYWORD: UNITED STATES NORTH AMERICA ARIZONA MASSACHUSETTS

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT

SOURCE: Iron Mountain Incorporated

Copyright Business Wire 2020.

PUB: 09/24/2020 06:00 AM/DISC: 09/24/2020 06:00 AM

http://www.businesswire.com/news/home/20200924005106/en

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