8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549


                                    FORM 8-K


                             Current Report Pursuant
                          to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


       Date of Report (Date of earliest event Reported): October 24, 2005

                                  EQUINIX, INC.
    ------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


          Delaware                  000-31293                77-0487526
- ----------------------------   -------------------   ---------------------------
(State or Other Jurisdiction    (Commission File          (I.R.S. Employer
      of Incorporation)              Number)            Identification Number)


                                301 Velocity Way
                          Foster City, California 94404
                                 (650) 513-7000
    -----------------------------------------------------------------------
      (Addresses, including zip code, and telephone numbers, including area
                      code, of principal executive offices)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
    Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
    Act (17 CFR 240.13e-4(c))







Item 1.01. Entry Into A Material Definitive Agreement.

     On October 24, 2005, Equinix RP, Inc., a Delaware Corporation and
wholly-owned subsidiary of Equinix, Inc. ("Equinix") entered into a definitive
purchase and sale agreement ("Agreement") with iStar Financial Inc., a Maryland
real estate investment trust ("Buyer"). The Agreement governs the sale and
leaseback by Equinix of an existing, improved 107,000 square foot data center
located in El Segundo, California known as the Maple data center. The purchase
price was determined through negotiations between Equinix and Buyer, and is
approximately $38.7 million dollars to be paid in cash at closing. The long-term
lease between Equinix and Buyer will commence upon closing, and is at market
rates with options to renew. The sale-leaseback transaction is subject to
closing contingencies, and it is expected that these conditions will be removed
on or before November 1, 2005 and the transaction will close before the end of
the year. Buyer is also the owner of approximately 39 acres of unimproved land
which Equinix currently leases in San Jose, California.


Item 8.01. Other Events

     On October 24, 2005, Equinix, Inc. entered into a non-binding letter of
intent to obtain long-term debt financing on Equinix's recently-purchased
Washington, D.C. area data center campus and to amend its ground lease for 39
acres of land in San Jose to allow for early termination of Equinix's
obligations under this lease.

     Regarding the Washington D.C. area data center financing, Equinix has
negotiated a non-binding letter of intent to finance this acquisition with a $60
million mortgage over 20 years. This financing is subject to completion of
definitive agreements, and although there is no assurance that the definitive
agreements will be completed, Equinix currently expects the transaction to close
before the end of the year. In addition, Equinix currently intends to list for
sale those buildings within the business park that will not be used for its
current operations or expansion plans.

     Equinix also announced today that it has entered into a non-binding letter
of intent for the early termination of its San Jose ground lease. The ground
lease, which covers 39 acres, was entered into in June of 2000, had a remaining
commitment of nearly $100 million through 2020. Under the proposed terms of the
letter of intent, Equinix will pay $40 million over the next four years,
commencing January 1, 2006, as well as certain carrying costs of the property
totaling an additional amount of approximately $1.5 million. This financing is
subject to completion of definitive agreements, and although there is no
assurance the definitive agreements will be completed, the Company currently
expects the transaction to close in January 2006. As a result of the deal,
Equinix will incur a restructuring charge in the range of $35-$40 million in the
fourth quarter.


Item 9.01. Financial Statements and Exhibits

     (c) Exhibits.

     99.1    Press Release of Equinix, Inc. dated October 25, 2005, furnished in
             accordance with Items 1.01 and 8.01 of this Current Report on Form
             8-K.







                                   SIGNATURES


     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                         EQUINIX, INC.


DATE:  October 25, 2005                  By: /s/  KEITH D. TAYLOR
                                             --------------------

                                             Keith D. Taylor
                                             Chief Financial Officer

EX-99.1

                                                                    Exhibit 99.1

 Equinix Executes Sale-Leaseback Agreement for Recently Acquired Data
      Center in L.A. Area and Updates Expectations for Financing
                     Washington, D.C. Area Campus

    FOSTER CITY, Calif.--(BUSINESS WIRE)--Oct. 25, 2005--

   Company Also Announces Agreement for Early Termination of Ground
     Lease in San Jose Yielding Substantial Long-Term Cost Savings

    Equinix, Inc. (Nasdaq:EQIX), the leading provider of
network-neutral data centers and Internet exchange services, today
announced that it has entered into a sale-leaseback agreement for the
data center property it recently purchased in the Los Angeles area.
Equinix also has entered into a non-binding letter of intent to obtain
long-term debt financing on Equinix's recently-purchased Washington,
D.C. area data center campus and to amend its ground lease for 39
acres of land in San Jose to allow for early termination of Equinix's
obligations under this lease.
    In September 2005, Equinix purchased a 107,000 square foot
stand-alone data center located in El Segundo, in the Los Angeles
area, for $34.7 million, including closing costs. The Company has now
entered into a purchase and sale agreement dated October 24, 2005, to
sell this data center for $38.7 million and to lease it back from the
purchaser pursuant to a long-term lease. Equinix will realize
approximately $15 million in cash savings over the initial term of the
lease as opposed to having entered into a direct lease with the
previous owner. These savings include a cash benefit on the sale of
the center approximating $3.5 million, net of costs. The
sale-leaseback transaction is subject to certain closing
contingencies. Although there can be no assurance that these
contingencies will be met, it is expected that these conditions will
be removed on or before November 1, 2005 and the transaction will
close before the end of the year.
    In October, Equinix purchased its flagship Washington, D.C. area
data center campus in Ashburn, Virginia for $53.0 million. The Company
drew down $30.0 million of its $50.0 million Silicon Valley Bank
revolving credit line to fund a portion of the purchase price for this
property. The Company has negotiated a non-binding letter of intent to
finance this acquisition with a $60.0 million, 8% mortgage to be
amortized over 20 years. Equinix plans to continue expanding its IBX
operations on the Ashburn campus and has agreed to invest $40.0
million in the property by the end of 2007. This financing is subject
to completion of definitive agreements, and although there is no
assurance that the definitive agreements will be completed, the
Company currently expects the transaction to close before the end of
the year. In addition, Equinix currently intends to list for sale
those buildings that will not be used for its current operations or
expansion plans.
    The Company also announced today that it has entered into a
non-binding letter of intent for the early termination of its San Jose
ground lease. The ground lease, which covers 39 acres, was entered
into in June of 2000 and had a remaining commitment of nearly $100.0
million through 2020. Equinix has determined that there were more
attractive expansion opportunities than building a new center on this
property and requested an early termination of the lease. Under the
proposed terms of the letter of intent, Equinix will pay $40.0 million
over the next four years, commencing January 1, 2006, as well as
certain carrying costs of the property totaling an additional amount
of approximately $1.5 million. This financing is subject to completion
of definitive agreements, and although there is no assurance the
definitive agreements will be completed, the Company currently expects
the transaction to close in January 2006. As a result of the deal,
Equinix will incur a restructuring charge in the range of $35.0 to
$40.0 million in the fourth quarter.
    "The financial strength of Equinix has enabled us to gain
financial control over key strategic properties and to better align
our real estate assets with our long-term expansion objectives," said
Peter Van Camp, CEO of Equinix. "Assuming the completion of these
transactions on current terms, we anticipate significant savings over
the terms of these leases."

    About Equinix

    Equinix is the leading global provider of network-neutral data
centers and Internet exchange services for enterprises, content
companies, systems integrators and network services providers. Through
the company's Internet Business Exchange(TM) (IBX(R)) centers in 11
markets in the U.S. and Asia, customers can directly interconnect with
every major global network and ISP for their critical peering, transit
and traffic exchange requirements. These interconnection points
facilitate the highest performance and growth of the Internet by
serving as neutral and open marketplaces for Internet infrastructure
services, allowing customers to expand their businesses while reducing
costs.

    This press release contains forward-looking statements that
involve risks and uncertainties. Actual results may differ materially
from expectations discussed in such forward-looking statements.
Factors that might cause such differences include, but are not limited
to, the challenges of acquiring and operating IBX centers and
developing, deploying and delivering Equinix services; a failure to
receive significant revenue from customers in recently-acquired data
centers; a failure to complete our contemplated financing
arrangements; competition from existing and new competitors; the
ability to generate sufficient cash flow or otherwise obtain funds to
repay new or outstanding indebtedness; the loss or decline in business
from our key customers and other risks described from time to time in
Equinix's filings with the Securities and Exchange Commission. In
particular, see Equinix's recent quarterly and annual reports and
registration statement on Form S-3 filed with the Securities and
Exchange Commission, copies of which are available upon request from
Equinix. Equinix does not assume any obligation to update the
forward-looking information contained in this press release.

    Equinix and IBX are registered trademarks of Equinix, Inc.
Internet Business Exchange is a trademark of Equinix, Inc.

    CONTACT: Equinix, Inc.
             Jason Starr, 650-513-7402 (Investor Relations)
             jstarr@equinix.com
             or
             K/F Communications, Inc.
             David Fonkalsrud, 415-255-6506 (Media)
             dave@kfcomm.com