Item 2. Properties

Our executive offices are located in Redwood City, California, with additional offices in several cities throughout the Americas, EMEA and Asia-Pacific regions.

The following tables present the locations of our leased and owned IBX data centers and xScaleTM data centers as of December 31, 2025.

						AMERICAS
						Metro						Leased (1)						Owned (1) (2)
						Atlanta						●						●
						Bogotá												●
						Boston												●
			Calgary						●						●
			Chicago						●						●
			Culpeper												●
			Dallas						●						●
			Washington, D.C./Ashburn						●						●
			Denver						●						●
			Houston												●
			Kamloops												●
			Lima												●
			Los Angeles						●						●
			Mexico City												●
			Miami						●						●
			Monterrey						●						●
			Montreal												●
			New York						●						●
			Ottawa												●
			Philadelphia						●
			Rio de Janeiro						●						●
			Saint John												●
			Santiago												●
			São Paulo												●
			Seattle						●						●
			Silicon Valley						●						●
			Toronto						●						●
						Vancouver						●
						Winnipeg						●

						EMEA
						Metro						Leased (1)						Owned (1) (2)
						Abidjan												●
						Abu Dhabi						●
						Accra												●
						Amsterdam						●						●
						Barcelona						●						●
			Bordeaux												●
			Dubai						●						●
			Dublin						●						●
			Düsseldorf												●
			East Netherlands						●
			Frankfurt						●						●
			Geneva						●						●
			Genoa												●
			Hamburg												●
			Helsinki						●						●
			Istanbul												●
			Johannesburg						●
			Lagos												●
			Lisbon												●
			London						●						●
			Madrid						●						●
			Manchester						●						●
			Milan						●						●
			Munich						●						●
			Muscat												●
			Paris						●						●
			Salalah												●
			Sofia												●
			Stockholm						●						●
						Warsaw						●						●
						Zurich						●						●

Asia-Pacific
Metro						Leased (1)						Owned (1) (2)
Adelaide												●
Brisbane												●
Canberra												●
Chennai												●
Hong Kong						●
Jakarta						●
Johor												●
Kuala Lumpur						●
Manila						●
Melbourne												●
Mumbai						●						●
Osaka						●						●
Perth												●
Seoul						●						●
Shanghai						●						●
Singapore						●						●
Sydney						●						●
Tokyo						●						●

(1)"●" denotes locations with one or more data centers.

(2)Owned sites include IBX data centers and xScale data centers subject to long-term ground leases.

The following table presents an overview of our portfolio of IBX data centers as of December 31, 2025:

(1)Excludes 25 unconsolidated data centers (23 xScale data centers and the MC1 and SN1 IBX data centers).

(2)Cabinets represent a specific amount of space within an IBX data center. Customers can combine and use multiple adjacent cabinets within an IBX data center, depending on their space requirements.

(3)The cabinet utilization rate represents the percentage of cabinet space billed versus total cabinet capacity, taking into consideration power limitations.

(4)MRR per cabinet represents average monthly recurring revenue recognized divided by the average number of cabinets billed during the fourth quarter of the year. Americas MRR per cabinet excludes Infomart non-IBX tenant income.

The following table presents a summary of our significant IBX data center projects under construction as of December 31, 2025:

(1)Capital expenditures are approximate and may change based on final construction details.