DuPont Fabros Closes on Santa Clara Site

DuPont Fabros Technology, Inc. (DFT) has closed on the purchase of 17.2 acres of land in Santa Clara, California for $22.0 million, the company said today. DuPont Fabros plans to build two large data centers at the site. The cost and date of the closing was expected, and had been disclosed in the company's SEC filings.

The two data centers will include 600,000 gross square feet and 342,000 square feet of finished data center space, with a power capacity of 72.8 megawatts. DuPont Fabros expects the first phase, SC1, to be completed in 2009, but has not announced a timetable for the second phase (SC2).

"As noted in our prospectus, this tract of land is a cornerstone in our development plans," said Hossein Fateh, President and CEO of DuPont Fabros. "It allows us to proceed with our expansion to the west coast of the United States."

DuPont Fabros recently completed its initial public offering, raising $678 million, which the company used to retire debt and acquire data centers and land from investment vehicles controlled by the company's founders.

Shares of DuPont Fabros closed Wednesday at $19.74, down slightly from its IPO price of $21 a share.