Washington, D.C.-based DuPont Fabros Technology plans to invest about $180 million to build out the rest of the former Enesco building in Elk Grove Village and lease it to Internet and data center companies by next year, the chief financial officer said Wednesday.
DuPont Fabros has already built out the first half of the building at 2200 Busse Road, which cost roughly $180 million. That first portion is 100 percent leased with about 10 companies. The company declined to name the local tenants due to security issues, said CFO Mark Wetzel.
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According to the New York Stock Exchange, DuPont Fabros' tenants, primarily technology companies including Microsoft, Yahoo, Facebook and Google, use the sites to house, power and cool some of their computer servers, which support critical business processes.
"We're considered the landlord to Internet companies where they can house their data centers," Wetzel said.
DuPont Fabros discussed its plans for expansion here and elsewhere during its fourth quarter earnings report this week. The real estate investment trust company owns, develops, operates and manages such sites.
Redevelopment of the former Enesco building began in 2008 and the rest is expected to be completed by April 2012, when leasing will begin for that last phase, Wetzel said.
Several companies have opened data centers around the suburbs to house critical data files and website hosting. For example, CoreLink Data Centers opened a new facility and its headquarters in Mount Prospect last year. AT&T Inc. has data centers in Lisle and Oak Brook. And GigaNet Internet Services moved its data center business from downtown Chicago to Arlington Heights.