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Related Party Transactions
9 Months Ended
Sep. 30, 2011
Related Party Transactions [Abstract] 
Related Party Transactions
12. Related Party Transactions
Prior to the closing of the IPO on September 28, 2010, CoreSite, LLC was engaged to act as the Company’s agent for the purpose of coordinating the activities of the property manager, for leasing and servicing the properties, and for overseeing property build-out activities. Subsequent to our Predecessor’s acquisition of CoreSite, LLC as part of the IPO on September 28, 2010, all related party revenue and expenses incurred in connection with CoreSite, LLC’s activities have been eliminated in consolidation.
For the three months and nine months ended September 30, 2010, CoreSite, LLC earned management fees from the Predecessor of $1.3 million and $3.6 million respectively. For the three months and nine months ended September 30, 2010, CoreSite, LLC earned lease commissions from our Predecessor of $0.2 million and $2.8 million, respectively. These commissions are included in deferred leasing costs. For the three and nine months ended September 30, 2010, CoreSite, LLC earned construction management fees from our Predecessor of $0.2 million and $1.2 million, respectively. The construction management fees are included in building improvements and construction in progress. For the three and nine months ended September 30, 2010, CoreSite, LLC was reimbursed for payroll related expenses from our Predecessor of $0.4 million and $1.2 million, respectively. At September 30, 2011 and December 31, 2010, no such fees were payable to CoreSite, LLC.
We lease 1,515 net rentable square feet of space at our 12100 Sunrise Valley property to an affiliate of The Carlyle Group. The lease commenced on July 1, 2008 and expires on June 30, 2013. Rental revenue was less than $0.1 million and less than $0.1 million for the three months ended September 30, 2011 and 2010, respectively, and $0.2 million and $0.1 million for the nine months ended September 30, 2011 and 2010, respectively.