A third lease is scheduled to expire in equal increments in 2017, 2018 and 2019. All of the Yahoo! space continues to be utilized. Facebook comprises approximately 21% of the company's annualized base rent as of June 30. Their lease expirations range from 2018 to 2022. As of today, we have no lease expirations in 2011.Page 10 of our earnings release package includes a table that details our updates of lease expirations, incorporating our recent leasing and renewal activity. We have less than 10% of our annualized base rent expiring through the end of 2014. As of June 30, our top 3 tenants represent 58% of our annualized base rent. The impact of Microsoft's renewal has increased the average remaining lease term for our entire portfolio from 6.6 years to 7.1 years. This is typical for tenants to evaluate their leases, future lease extensions within 9 to 12 months of expiration against their anticipated needs for server capacity and economic cycles. As we all know, it could be extremely expensive and cost-prohibitive for tenants to move out of their [indiscernible]. The data center economics of build versus buy remains a hot topic, and each of our largest tenants can do both. As an outsourcing solution, we continue to believe the company's current and future capacity planning needs drive this decision, not the fact that they can afford to build one. During the second quarter, we signed 3 leases totaling 3.25 megawatts of available critical load. One lease is for 433 kilowatts of Phase I of Chicago and is with an existing technology tenant. The second lease, which was previously disclosed on our last earnings call, is with a technology tenant for 2.28 megawatts in Santa Clara. The third lease is with an existing tenant within our Ashburn Corporate Center and is for -- sorry, for 548 kilowatts in ACC6. This is our first lease within ACC6. Subsequent to the second quarter, we signed one lease with a new technology tenant for 569 kilowatts of critical load in New Jersey. This increases our lease critical load to 25%.
DuPont Fabros Technology's CEO Discusses Q2 2011 Results - Earnings Call Transcript
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