CoreSite Realty announced the purchase and planned development of a new data center campus in Secaucus, New Jersey.

The firm is under contract to acquire a 280,000 square-foot building which will be referred to as NY2, on 10 acres of land in Secaucus, New Jersey.

At full build-out, CoreSite expects NY2 will offer up to 18 critical megawatts of capacity with potential for further demand driven expansion

It anticipates closing on the acquisition in early February beginning construction to convert the existing building to data center specifications in Q1, 2013, and delivering turn-key capacity in Q4, 2013.

CoreSite expects to invest $65.0 million to acquire the facility, redevelop the powered shell, and complete the initial phase of inventory consisting of 65,000 square feet.

"CoreSite's entry into Secaucus is an important step in the execution of our strategy to extend our U.S. platform supporting latency-sensitive customer applications in network-dense, cloud-enabled data center campuses," said Tom Ray, President and Chief Executive Officer, CoreSite.

"Our New York campus is designed to meet performance-sensitive customer requirements supported by our location at the nexus of robust, protected, low-latency network rings serving Manhattan as well as global cable routes to Chicago, Frankfurt, London, and Brazil. Additionally, customers are able to connect directly to service nodes for Amazon Web Services Direct Connect."Pre-commitments from key CoreSite service partners and preliminary interest shown by prospective customers in NY2 demonstrate the benefits CoreSite offers with the optimal combination of cost-effective capacity and power, diverse high-performance network connectivity, and interconnected communities.The result for CoreSite customers is the ability to propel growth and gain long-term competitive advantage.

The availability of direct connections to high speed networks in NY2 is particularly interesting to financial firms looking to reduce latency and improve performance. Supporting this goal and reflecting the strength of the NY2 location and CoreSite's North American operating platform, three network service providers have pre-committed to serve NY2, consisting of CoreSite partners Sidera Networks, Zayo, and Seaborn Networks, each of which provides high-performance network support to the financial services, cloud and network communities.

"The new CoreSite data center in New Jersey fits perfectly with Sidera's growth strategy," said Clint Heiden, President, Sidera Networks. "This expansion gives CoreSite customers immediate access to over 40 financial exchanges and the Sidera Xtreme Ultra-Low Latency Network."

"NY2 is an integral part of Seaborn Networks' plan for CoreSite to serve as turnkey backhaul provider for the U.S. landing of Seabras-1, our U.S.-Brazil submarine cable with a planned Ready For Service (RFS) date of Q1, 2015," said Larry Schwartz, CEO, Seaborn Networks.

"This is the first step in CoreSite providing a full mesh backhaul and point of presence network for Seabras-1's U.S. landing."CoreSite intends to ensure the availability of high-capacity and high-speed lit services as well as a robust dark-fiber tether between NY2 and CoreSite's NY1 location at 32 Avenue of the Americas in Manhattan, enabling CoreSite to provide seamless interconnection across its New York campus.

The seamless connection between NY1 and NY2 will provide distributed direct-connect access to the CoreSite Mesh, creating one of the most comprehensive cloud communities in the greater New Yorkarea and immediately bringing together over 75 leading network service providers as well as public, private, and hybrid cloud providers.Digital content providers will also benefit from CoreSite's reliable infrastructure and scalable campus that can support continued growth in media consumption.

Furthermore, the network providers in the new NY2 location will enable low latency connectivity within and among the fastest routes available to the financial services community.It will be the sixteenth data center in CoreSite's national platform, which spans nine U.S. markets and includes more than 275 carriers and service providers and more than 15,000 interconnections.