Question-and-Answer Session
Operator
Thank you. (Operator Instructions) And we will take our First question from Jordan Sadler with KeyBanc Capital Markets.
Jordan Sadler – KeyBanc Capital Markets
Thanks good morning guys.
Unidentified Company Representative
Hi, Jordan.
Jordan Sadler – KeyBanc Capital Markets
I wanted to the follow-up on the leasing activity that was executed post quarter rent, you said those two leases we are not part of the formal processes or fee process. And the pipeline is very good. So, it’s pretty interesting. So, that suggest to me that, demand is accelerating and I know some of your broader and not necessarily in the wholesale side of the business, but some of broader in the wholesales, in the data center business. Have had said the expect increase capital spending and increase demand in the second half of the year, is just – It is just, could you say that’s consistent.
Unidentified Company Representative
Well let me, I mean- I think we already a little bit of the businesses. Business and the Colo guys, but what we are seeing as what I ment, or what we meant by saying there were not part of the formal process. Is not that the two leases we executed to a relationship. Deal that we have relationship with what we have seen is the request for proposals has gone up dramatically not only in the number. But also in the number of megawatts that tenant need. However we are cautious not to say we expect bigger leasing activity. This quarter has been a tremendous leasing and then we can’t expect to have 12 megawatts of leasing every quarter. So what we are saying is we are optimistic but we want to – we are cautiously optimistic as what the prospect holds. But we don’t know if all these requests when they will turn into solid leases.
Jordan Sadler – KeyBanc Capital Markets
Will you on ACC5 and going for the secured debt on that will you going in the entire property or just Phase I?
Unidentified Company Representative
Now the collateral package George, this is Mark. The collateral package will be the whole Phase I and Phase II.
Jordan Sadler – KeyBanc Capital Markets
Okay. And so you wouldn’t need to sign any additional leases per say even though that development there is a whole it’s probably I don’t know 50% lease?
Unidentified Company Representative
We are talking of variety of ways do it whether there is an feature whether we kind of Condo this structure of the deal. So it’s nothing said still at this point. But we will try to match up with the – with maybe a corporate guarantee with based on the cash flows. But leasing is the perspective tenant list is still good for us and we just see the momentum going.
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