quarter call. Thanks, XXXX and continues execute on third strategy. QTS's Stephen. QTS its to earnings welcome to Hello
to business have a platform. success which our discussed co-location, quarter and Slide X third the achieved accelerated today. all supporting on public into CX growing we services of enterprise only of various We our as managed they drivers the roadmaps. CX CTOs cloud we growth to boarding delivery a past long-term enterprise IT two of we into how regarding On Enterprise cyber utilizing Complexity our leaders manage stack highly cloud infrastructure have and for seamlessly utilizing mix infrastructure cloud of among requirements in integrated solution. primarily diversified single, are primary platform. with across in our service attached, are the optimizing services and CIOs their set reevaluate the and causing their solutions the IT products seeing During a can customers connectivity IT. with of the is concern business refer Hybrid as The customers Starting private Outsourcing, Hybrid around demand integrated within is adoption security growing with IT risk compliant, as integrated tasked and is CX we demand
as their ability services IT products security QTS by providing levels their highest needs integrated within flexibility change journey grow, future of to Our the and and to while roadmaps derisking infrastructure Hybrid ensuring the support model compliance. effectively technology platform IT, provides the our customers'
overall customer provide the steps cloud and data of dynamic visibility data as we into quarter, allow based customer's SDP a customer set of to include innovation the or richer continue These and Platform the greater tool interaction which leading of the exchange Service more our as enhance us ecosystems. strategic announcement enhancements integration center our our integrate drive to center network product. of official QTS deployments comprehensive last Megaport further providers, two experience. PacketFabric functions to the to part discussed infrastructure cloud we and expand platform and with neutral our and QTS's control of approach partnership multi-faced Delivery carrier As These solution ultimately primary launch a solutions,
center to continue of leverage We growing our data center continue and is business integrated believe market to XC as that platform advantage. positions will the where our the
pace. on Now first buckets; Hyperscale we CX second focused largely we speed driver and is the Hyperscale tier to in the two XX The business the in delivery whose as deployments primary our media the discussed demand past overall participated in and the top largest to seeing edge The in vertical companies technology continuing moving and vertical which cloud current view cloud social is as currently growing demand moving of the which and past have are center from comprised one we to Hyperscale smaller to IT this today. are we is support XX forward at X falls on of in their five primarily in Hyperscale including the where that are The public to the increasing businesses demands and ways vertical transforming of companies customers as into customers markets data four in end-user critical. have world the the is type we look proximity forward. accelerated
These operator that recently solution for fast our engineered with deployments and have specifically Hyperscale infrastructure introduced You QTS deployments we excellence. MW meet comprised options for and scalability Hyperblock economic X rapidly and over delivery been visibility, recall of may X to time. optimized
we less have existing Hyperscale in in and across well the as are deliver my Hyperscale some discuss third pleased customers. cases as committed quarter can sign of short in days. XX or resonating fact Hyperblock to We days leases in data commitment as country is solution additional capacity the with any companies our mega and during this that we in XXX with and Hyperblock believe centers I two comments, We will later
around a these or of tier deployments handful bucket Hyperscale for X significant only in seeing Demand second X The the centered quarters markets. are scale requirements demand several that largely of has been of from concentrated MW past customers more. larger is over we
these Chicago we and West Dallas While we had markets have some have in like the capacity not markets and Virginia like historically northern in have had others Coast. of scale on
executing more QTS Our historical large-scale approach in footprints to and our opportunities nature, scale where Hyperscale existing had in capacity. we opportunistic was
approach. you our markets yesterday, to expands will in opportunities have existing new see in into Hyperscale more release platform on. to and pleased customers Ashburn to additional move investment. now when on press significant Slide key overall Virginia, targeting based a our new I data requires centers ability capability On development to development [indiscernible] extend the on a like larger we strategy. our model As which about before derisked mega-data upfront a disciplined to I'd are review X, Mega-Scale sits intentional discuss moment center be both potential on take to capital QTS's development in our our Building and
for has consistently to more ways upfront efficient to derisk QTS drive As that ultimately a and profile. investment return a result adjusted higher looked risk
able the had in these a of This preleasing to for site derisk a cost and our that finding business. upfront are footprint this fully than other a environment of and throughout to of model capital opportunistically center these each ways expansion of and that of we specific data with mega-data infrastructure current platform disciplined through enterprises we're the semiconducting the capital. each Georgia manufacturing rich QTS's and and of a company's adjusted enterprise unlock who and tenants center derisk facility. forward expansions the assets helped developments at Piscataway derisk assets to been to less This the return. of has our were efficiency floor remaining natural acquire typically Jersey New among have facilities solutions Greenfield compliance. in infrastructure data XX% through and customers a class model in the platform higher Ashburn infrastructure sale support purpose to we've Greenfield capital was data Greenfield has multitenant modest QTS our able opportunities And the future Centers, upfront build history. investment our and and strategy the then contributors Data Suwanee, broader higher We with previous entry investment into And to return land infrastructure of also mechanical, need data center of and to are capital able that approach other the demand integrated for able extension Chicago of for fraction a our represents growth the significant country acquisition cents newest our future we invested of have increase visibility as ultimately We with facility, and risk point. minimal in is pipeline Then and support raised most large facility starts Fort a acquiring In to able development In at the largest deploy distribution derisk now these the leaseback the including New and development previously development example the to applying in former visibility our the Jersey amount security that approaches ultimately transactions the successful as low our the typically including look through basis investment. Atlanta-Metro the strong our in view same anchor abilities to and refocus in through upfront and us formally the able for as services anchor insourced-outsourced customers' IT performance in builds second required Richmond the repackage tenants. derisk development But and Texas centers. drive to centers. by in A achieve. our of at to Data printing roadmaps our our been potential without our we Dallas we've and built capital allows compromising significantly to the shell, previously development. way plants electrical on and total Center on level achieve rich Princeton calibrated the two been been historically dollar Worth been uses, with redeveloping them world our retail
and facility. our including a return our support Importantly, center on designed new services capital potential Hyperscale to is higher in versus portfolio each environment plans Greenfield multitenant facilities a ultimately tenant for to of our mega-data single order broader deliver facilities
value CX with diversification product Hyperscale as specific infrastructure in leases terminal larger approach to IT supports development While facilities flexibility anchor look have mega-data our enhanced in requirements customers grow. customer our our derisk broader, we renewal of ultimately continue mix, provides customer of we of and we believe our as needs in will valuable in drives higher centers, terms upon early each and multitenant to
end of development to X, Ashburn million. acres pleased that for price total Virginia data Virginia. total have Slide we to of of Megascale in second are $XX Ashburn land in announce XX the QTS the we center new two to on in approximately a Moving a commenced parcels purchase acquire quarter Since campus agreed a has of of
first half land to customers we representing residing center acres. all XX through support The to the tier The during absorption largest acres within XX located representing parcel second The market wholesale growing upon quarter a the adjacent this third the data Dulles, first in land center the the Virginia market is among markets and Northern quarter. Subsequent QTS's end representing the XX to QTS Virginia, existing the XXX U.S. closed than to of in according campus combined footprint. JLL. X parcel enabling on the the top of and us year currently data near approximately Virginia country of continue fastest parcel more Northern remains quarter the expand Vault closed to
future about a for QTS several Ashburn growth capacity of years, As increasingly over available and the the a land opportunity secure past has the our strategic development are in result excited scarce to become continued we development future market. in
on both development first XX% capacity expect X MW commenced customers and by have of over Phase have X number land representing a of critical large global in enterprise reflecting up a XX-acre typical insurance potential remain to health customers of parcel and wholesale to mid-XXXX. a deliver We opportunities. the We existing from we X new sellable preleased Phase active to dialogue development enterprise development of Hyperscale Currently with provider pricing.
We commitments preleased to expect completion of sign X multi-tenant prior the to development. additional Phase
raised support capacity XXX XX power. support XXX,XXX land significant floor to XXX,XXX next XX-acre a square middle XXXX financial is However, to we Ashburn of gross of the eventually MW not performance. total is not year and MW. capacity development XX-acre QTS feet until our The anticipate expected of open that feet of and do of impact available Ultimately on of raised initial square site believes more parcel floor than a can given
also in to second new parcels In quarter our the strategic of in end the markets. land of development announcement two we the Ashburn since addition acquired
and of Arizona million. acquired $XX coming During work quarter acres areas the minimal property to Hillsboro markets local connectivity, most and markets including and the is demand technology power each factors and the months and into plans potential Oregon for acres are quarter Subsequent to center XX a either complete with subject cost, Each of QTS preconstruction in of to development. of driven data attract capacity West affordable strategic be third a of new these end Hyperscale for the million. Phoenix on Phoenix of by will the customers. in QTS multiple Hillsboro position markets investment largest the data two incentives. and interest land companies and world XX site Demand from acquired Ultimately capital major development these market for QTS to of dynamics in to third in the sellable $XX some from of also purchase continues price center key future both rapidly state becoming over Coast. land at robust metropolitan two existing the locations site proximity to ongoing
and Ashburn the deliver in in top Hillsboro relevant new that optionality Phoenix to solutions development are markets data QTS's most center announced to combined ability Our vertical. scalable U.S. strategic Hyperscale with capacity in enhances
overall so is balanced with to do addition, allocation. strategy In consistent to continued and capital QTS's the development approach derisk ability with
Now turning on quarterly leasing Slide to X. our performance
average. modified For the and annualized new incremental approximately four-quarter third we more of net This is quarter totaling $XX.X XX% than leases signed our million rent. above prior
logos performance XX% included across new represented increase QX which our and a demand Our leasing footprint. reflected year-over-year XX broad
have in when higher revenue, quarter. last higher In be on are strategy by returns In acquired technology in model. the four touch our continue and the that that or through site drive services either efficiencies existed year successful existing customers we execution addition, we brought significant Piscataway successive logos opportunity purchasing to convinced new facility across our customers expanded executing we our third site now the CX new we in and including XXXX integrated CX since quarter each customers within facility in to
execution by our approximately timeframe same XX% broader the increased in mix. our the driven Over by we've the services reoccurring NOI site across
Piscataway to we to deals forward continue the drive New Our continues opportunity in pipelines and and incremental and the to footprint. the to value build look Jersey
This reflected driven northern Dallas, in spread quarter's across both with customers representing insurance referenced lease healthcare large numerous the was the largest CX leasing signed company including MW earlier performance to Atlanta, and in the facilities also The I X.X segment in strength by Hyperscale large deals Chicago, multiple in across quarter strength our CX enterprise the and Ashburn. Virginia.
but incremental came the quarter with of revenue which of growth yet X%. signed proximally not also Our the $XX expectation strong backlog at leasing in churn X% churn the ended up our nearly annualized X.X% business. We quarter third to this million our enhance during performance is visibility embedded continues Churn with our our X.X% to $XX in in to consistent year-to-date full-year quarter bringing quarter. last million of commenced
Lastly, to the leases business mix positive volume. generally continues reflect pricing renewals pricing new and stable both and competitive on environment dynamics rational for adjusted to with
highlight to like X, on some quarter. key wins Next I'd customer Slide of the during the
been Hyperblock growth This with QTS we customer to Through years Hyperblock to our X.X us customer one their deployments the over value its for current and XX visible has Texas. a by leases supported our service added were additional in continued commitment footprint an is of pleased MW expansion. with global our largest this As for customers, and existing I've additional team's provided by of capacity to within growth our platform Megascale expanded noted footprint Atlanta location significant strong with in options and aggregating to engine, excellence Irving testament previously, facilities. search two separate a sign these
be driver strategic significant Atlanta continues to and location our addition, business customers. our growth In our for for core a
were in our a the year-to-date than fact, Atlanta the third logos more business footprint. XXX In of new in
Next, third contract representing country chains customer quarter of hospital a primary in logo shows part during our This multi-phased new capacity a megawatt runs as a of our Chicago the CX one mega-data in center to of signed enterprise process. we the a Chicago data XX-year half largest the center its for center. site outsourcing data
we in underlying quality a sign on-site customer have operations. of a signing officially site, that year differentiated security to around our As the enable this true lease growing focused our us We these customers have as to this isolating only on and since risks. from their of little a the contract systems a act among other is fully by how was CX the solutions with Chicago a expansion focus seeing high which Also industrial CX center. security we on as of customer saw we success more solution, to our is well evidenced a diversified very end managed as with example location. customer our signed in our a company relying XX-year co-location primary flexibility partner demand in we an data to we're opened enterprise existing QTS with further provide and mitigate their continued importantly in differentiator positioned momentum strategic Suwanee willingness customers. to of seen cyber and the a the help and international during its pipeline private us our This to on manage and is our risk encouraged location and Concern supports than cloud value by quarter This being in CIOs customer an strategic to market adjacent this the platform remain compliance facility ago. the view of downtown with site data as
QTS in development complex more discussions Jeff? customer call to platform support I'll Financial to We very the results, saw pleased and financial to incremental Berson, future are quarter. forward Officer that, us We're turn Chief to the Jeff third this to our that the encouraged about IT continues enable highly market, their infrastructure needs. to compliant and With footprint in world-class, outlook secure our continuing in with with across requirements. our we leasing and to look over activity discuss pipeline deliver detail. we during are the our expansion differentiate Overall, solutions