This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

A Data-Center Operator in a Good Space

CoreSite Realty (COR - Get Report) is one of those landlords that have it made. Its tenants never throw loud parties, leave beer cans in the street, skid around the parking lot or forget to water the plants. That's because its tenants are machines.

CoreSite is owner and operator of technology data centers, operating in one of the hottest sectors around. It supports more than 700 commercial customers across 12 data centers in seven major markets, and I bet none of them have a criminal record.

The firm began operations in 2001 as CRG West with two carrier-neutral data centers in California, and it now operates in Boston, Chicago, New York, Denver and Miami. It was originally created to meet the interconnection and data-center needs of customers at One Wilshire in Los Angeles and 55 South Market in San Jose. In fact, One Wilshire is considered the main hub of the Internet for the entire Pacific Rim, supplying the entire West Coast as well as several other parts of the world with connectivity.

After eight years of aggressive growth, the firm went from a data-center operator focused solely on the West Coast to a powerhouse with international reach. It went public in last 2010 and has continued its impressive growth -- shares soared 66% in less than 11 months.

CoreSite has been led by chief executive Thomas Ray since 2001. He brought over a wealth of experience as the managing director of Carlyle Group's real estate funds, as well as the Security Capital Group of companies, which included ProLogis and CarrAmerica.

CoreSite serves carriers, mobile operators, content and cloud providers and media, entertainment and global enterprises. It is full-service in every sense of the term, providing 24-hour support, implementation support managers who are assigned to every new customer move-in and ongoing advice on best practice, vendor contacts and optimization layouts.

The company has several unique differentiators from peers, starting with its ability to serve a full spectrum of market demand from network-based to power to proximity requirements. CoreSite utilizes an in-house leasing team, which helps foster customer relationships and enables executives to stay close to the quickly changing needs and demands of clients.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Real Money
Try it NOW

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums


Chart of I:DJI
DOW 17,719.92 -78.57 -0.44%
S&P 500 2,080.41 -9.70 -0.46%
NASDAQ 5,108.6660 -18.8590 -0.37%

Our Tweets

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs