Item 2. PROPERTIES.

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Item 2. PROPERTIES.

As of December 31, 2020, we conducted operations through 1,167 leased facilities and 281 owned facilities. Our facilities are divided among our reportable operating segments as follows: Global RIM Business (1,374), Global Data Center Business (15) and Corporate and Other Business (59). These facilities contain a total of approximately 92.7 million square feet of space. A breakdown of owned and leased facilities by country (and by state within the United States) is listed below:


20			IRON MOUNTAIN 2020 FORM 10-K

Part I


	LEASED				OWNED				TOTAL
COUNTRY/STATE	NUMBER		SQUARE FEET		NUMBER		SQUARE FEET		NUMBER		SQUARE FEET
North America
United States (Including Puerto Rico)
Alabama		3		312,473		1		12,621		4		325,094
Arizona		8		496,448		6		1,207,281		14		1,703,729
Arkansas		2		63,604		—		—		2		63,604
California		66		5,606,499		10		958,856		76		6,565,355
Colorado		10		499,546		4		484,490		14		984,036
Connecticut		4		199,114		6		665,013		10		864,127
Delaware		4		309,067		1		120,921		5		429,988
District of Columbia		1		1,670		—		—		1		1,670
Florida		33		2,356,117		5		263,930		38		2,620,047
Georgia		10		826,606		5		265,049		15		1,091,655
Idaho		2		105,021		—		—		2		105,021
Illinois		15		1,213,808		7		1,309,975		22		2,523,783
Indiana		6		344,516		—		—		6		344,516
Iowa		2		145,138		1		14,200		3		159,338
Kansas		3		253,919		—		—		3		253,919
Kentucky		3		116,000		4		418,760		7		534,760
Louisiana		4		388,475		—		—		4		388,475
Maine		—		—		1		95,000		1		95,000
Maryland		19		2,032,517		2		83,442		21		2,115,959
Massachusetts (including Corporate Headquarters)		8		545,039		8		1,173,503		16		1,718,542
Michigan		13		785,563		6		345,736		19		1,131,299
Minnesota		12		908,474		—		—		12		908,474
Mississippi		3		201,300		—		—		3		201,300
Missouri		10		1,225,648		5		373,120		15		1,598,768
Montana		3		35,990		—		—		3		35,990
Nebraska		1		34,560		3		316,970		4		351,530
Nevada		7		276,520		1		107,041		8		383,561
New Hampshire		—		—		1		146,467		1		146,467
New Jersey		34		3,091,948		8		2,476,635		42		5,568,583
New Mexico		3		151,473		—		—		3		151,473
New York		20		921,775		13		1,186,266		33		2,108,041
North Carolina		19		976,504		3		150,624		22		1,127,128
Ohio		14		1,064,729		5		290,291		19		1,355,020
Oklahoma		5		228,425		—		—		5		228,425
Oregon		11		384,296		1		55,621		12		439,917
Pennsylvania		24		2,335,704		4		2,067,081		28		4,402,785
Puerto Rico		4		237,969		1		54,352		5		292,321
Rhode Island		1		70,159		1		12,748		2		82,907
South Carolina		4		247,375		2		214,238		6		461,613
Tennessee		5		256,743		4		63,909		9		320,652
Texas		40		2,172,049		27		2,229,977		67		4,402,026
Utah		2		78,148		1		90,553		3		168,701
Vermont		2		55,200		—		—		2		55,200
Virginia		12		685,369		7		795,036		19		1,480,405
Washington		7		719,991		5		196,028		12		916,019
West Virginia		2		105,502		—		—		2		105,502
Wisconsin		6		389,857		1		10,655		7		400,512
Total United States		467		33,456,848		160		18,256,389		627		51,713,237
Canada		49		3,076,099		16		1,783,258		65		4,859,357
Total North America		516		36,532,947		176		20,039,647		692		56,572,594


			IRON MOUNTAIN 2020 FORM 10-K			21

Part I




	LEASED				OWNED				TOTAL
COUNTRY/STATE	NUMBER		SQUARE FEET		NUMBER		SQUARE FEET		NUMBER		SQUARE FEET
International
Argentina		4		225,334		4		298,864		8		524,198
Armenia		3		13,712		—		—		3		13,712
Australia		44		3,004,241		2		33,845		46		3,038,086
Austria		3		92,296		1		30,000		4		122,296
Belarus		4		18,472		—		—		4		18,472
Belgium		4		202,106		1		104,391		5		306,497
Brazil		42		2,854,580		7		324,655		49		3,179,235
Bulgaria		2		154,204		—		—		2		154,204
Chile		8		295,030		10		376,183		18		671,213
China Mainland (including China - Hong Kong S.A.R., China-Taiwan and China-Macau S.A.R.)		45		1,878,851		1		20,518		46		1,899,369
Colombia		24		938,325		—		—		24		938,325
Croatia		1		36,737		1		36,447		2		73,184
Cyprus		2		51,118		2		46,246		4		97,364
Czech Republic		7		152,889		—		—		7		152,889
Denmark		3		161,361		—		—		3		161,361
England		59		2,969,416		23		1,175,907		82		4,145,323
Estonia		1		38,861		—		—		1		38,861
Eswatini		3		6,997		—		—		3		6,997
Finland		3		95,896		—		—		3		95,896
France		33		2,111,261		12		936,486		45		3,047,747
Germany		14		690,283		2		93,226		16		783,509
Greece		4		291,273		—		—		4		291,273
Hungary		7		350,898		—		—		7		350,898
India		75		3,211,253		—		—		75		3,211,253
Indonesia		3		85,423		1		37,674		4		123,097
Ireland		5		133,153		3		158,558		8		291,711
Kazakhstan		4		46,482		—		—		4		46,482
Latvia		2		58,710		—		—		2		58,710
Lesotho		2		4,736		—		—		2		4,736
Lithuania		2		60,543		—		—		2		60,543
Malaysia		8		443,149		—		—		8		443,149
Mexico		10		478,471		8		585,885		18		1,064,356
The Netherlands		9		602,564		3		102,199		12		704,763
Northern Ireland		3		129,083		—		—		3		129,083
New Zealand		6		413,959		—		—		6		413,959
Norway		5		194,321		—		—		5		194,321
Peru		4		63,949		10		433,770		14		497,719
Philippines		9		338,040		—		—		9		338,040
Poland		19		796,561		—		—		19		796,561
Romania		7		412,214		—		—		7		412,214
Russia		44		1,743,914		—		—		44		1,743,914
Scotland		—		—		4		375,294		4		375,294
Serbia		3		98,876		—		—		3		98,876
Singapore		6		297,581		3		345,056		9		642,637
Slovakia		5		173,792		—		—		5		173,792
South Africa		17		483,181		—		—		17		483,181
South Korea		8		257,233		—		—		8		257,233
Spain		31		766,667		5		170,707		36		937,374
Sweden		6		759,793		—		—		6		759,793
Switzerland		11		283,104		—		—		11		283,104
Thailand		3		205,827		2		105,487		5		311,314
Turkey		8		675,751		—		—		8		675,751
Ukraine		10		208,050		—		—		10		208,050
United Arab Emirates		6		314,628		—		—		6		314,628
Total International		651		30,375,149		105		5,791,398		756		36,166,547
Total		1,167		66,908,096		281		25,831,045		1,448		92,739,141


22			IRON MOUNTAIN 2020 FORM 10-K

Part I

The leased facilities typically have initial lease terms of five to 10 years with one or more renewal options. In addition, some of the leases contain either a purchase option or a right of first refusal upon the sale of the property. We believe that the space available in our facilities is adequate to meet our current needs, although future growth may require that we lease or purchase additional real property.

Our total building utilization and total racking utilization by region as of December 31, 2020 in Records Management and Data Management are as follows:


	RECORDS MANAGEMENT(1)		DATA MANAGEMENT
REGION	BUILDING UTILIZATION	RACKING UTILIZATION	BUILDING UTILIZATION	RACKING UTILIZATION
North America	83%	90%	85%	97%
Europe	83%	91%	49%	74%
Latin America	87%	91%	76%	81%
Asia	86%	93%	66%	72%
Total	84%	91%	75%	90%

(1)Total building utilization and total racking utilization for Records Management includes the utilization for GDS and Consumer Storage.

See Note 2.i. to Notes to Consolidated Financial Statements included in this Annual Report for information regarding our minimum annual lease commitments as a lessee.

See Schedule III—Schedule of Real Estate and Accumulated Depreciation in this Annual Report for information regarding the cost, accumulated depreciation and encumbrances associated with our owned real estate.

The following table sets forth a summary of the lease expirations for leases in place related to our Global Data Center Business, for which we are the lessor, as of December 31, 2020. The information set forth in the table assumes that tenants exercise no renewal options and all early termination rights.


YEAR	NUMBER OF LEASES EXPIRING	TOTAL MEGAWATTS EXPIRING	PERCENTAGE OF TOTAL MEGAWATTS EXPIRING		ANNUALIZED TOTAL CONTRACT RENT EXPIRING (IN THOUSANDS)		PERCENTAGE OF TOTAL CONTRACT VALUE ANNUALIZED RENT
2021	594	18.1	13.9	%	$	57,614	20.2	%
2022	320	17.6	13.5	%	46,544		16.3	%
2023	261	18.7	14.4	%	50,762		17.8	%
2024	81	8.9	6.8	%	22,497		7.9	%
2025	48	11.6	8.9	%	25,593		9.0	%
2026	14	7.6	5.8	%	15,683		5.5	%
2027	3	6.8	5.2	%	6,944		2.4	%
Thereafter	19	41.1	31.5	%	59,851		20.9	%
Total	1,340	130.4	100.0	%	$	285,488	100.0	%

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