CoreSite Realty Corporation (NYSE:COR) Files An 8-K Entry into a Material Definitive Agreement

ME Staff 8-k
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CoreSite Realty Corporation (NYSE:COR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On June30, 2018, CoreSite One Wilshire, L.L.C. (“CoreSite OW”), a Delaware limited liability company (formerly known as “CRG West One Wilshire, L.L.C.”) and a subsidiary of CoreSite Realty Corporation (the “Company”), entered into the Seventh Amendment to Lease (the “Seventh Amendment”) with GI TC One Wilshire, LLC (“Landlord”), which further amended the terms of the Lease, dated as of August1, 2007, between Hines REIT One Wilshire L.P. (“Hines”), as landlord, and CoreSite OW, as tenant (such Lease, together with the Seventh Amendment and all prior amendments thereto being referred to herein, collectively, as the “Lease”). The Lease relates to the Company’s continuing real estate operations (the “CoreSite Premises”) at 624 S. Grand Avenue, Los Angeles, California.

In the Seventh Amendment, CoreSite OW and Landlord (i)expanded the CoreSite Premises to include a portion of the 15th floor containing approximately 17,238 rentable square feet (the “Suite1500 Premises”), increasing to 176,685 the aggregate amount of rentable square feet of the CoreSite Premises, (ii)extended the term of the Lease from July31, 2022 to July31, 2029 (with a continuing option for CoreSite OW to so extend with respect to all of the CoreSite Premises), and (iii)modified various other terms and provisions of the Lease.

The rent paid by CoreSite OW with respect to 159,447 rentable square feet of the CoreSite Premises under the Lease remains unchanged, subject to 3% annual increases through the extended term and any further extension periods. The rent with respect to the Suite1500 Premises is payable in the amount of $150,000 per month for the first year, subject to 3% annual increases through the extended term and any further extension periods. CoreSite OW holds options to extend the term with respect to the CoreSite Premises through July31, 2044.

The summary set forth above is qualified in its entirety by reference to the Seventh Amendment to Lease, dated as of June30, 2018, attached as Exhibit10.1 hereto and incorporated herein by reference.


CoreSite Realty Corp Exhibit
EX-10.1 2 a18-16333_1ex10d1.htm EX-10.1 Exhibit 10.1   SEVENTH AMENDMENT TO LEASE   THIS SEVENTH AMENDMENT TO LEASE (this “Amendment”) is dated for reference purposes only as of June 30,…
To view the full exhibit click here

About CoreSite Realty Corporation (NYSE:COR)

CoreSite Realty Corporation (CoreSite) is an integrated, self-administered and self-managed real estate investment trust (REIT). Through its controlling interest in CoreSite, L.P. (Operating Partnership), the Company is engaged in the business of ownership, acquisition, construction and operation of data centers across a range of markets in the United States, including the Northern Virginia (including Washington D.C.), New York and San Francisco Bay areas, Chicago, Los Angeles, Boston, Miami and Denver. It delivers data center and interconnection solutions across approximately eight North American markets. It offers colocation and interconnection solutions for networks, cloud and information technology (IT) service providers and enterprise companies spanning a range of industries. The Company connects and delivers data and information technology infrastructure to approximately 900 enterprises, network operators, cloud providers and supporting service providers.