As I mentioned earlier, this year, we celebrate 70 years of Iron Mountain.
Since that day on 24 August 1951, we have built, evolved and expanded our trusted relationship with our customers to include not just the leading storage platform of physical assets but now includes a rapidly increasing range of business services.
And today, with this broadened portfolio of services and storage capabilities, we have become an innovative and global leader in our field with more than 225,000 customers, including more than 95% of the Fortune 1000, a global footprint of more than 1,450 facilities with a presence in 58 countries and 24,000 dedicated Mountaineers across the globe.
And doing all this with -- in an energy sustainable way with 100% of our data centers powered by renewable energy.
Many of the things about us have changed in 70 years.
Over the last two quarters, we shared with you that we now have an expanded total addressable market, or TAM, of more than $80 billion.
In this quarter versus a year ago, these business lines have grown over 37%, resulting in $25 million of incremental growth.
We won a $750,000 annual recurring revenue digital mailroom contract over their current service provider.
We won a deal with one of the world's largest banks to recycle corporate laptops, monitors, and outdated IT equipment across over 400 corporate offices, 4,000 conference rooms and 5,000 retail offices, which we expect to generate annual run-rate revenues greater than $5 million.
We want to share not only our continued growth in top and bottom line, but some recent exciting developments in the last month which has led us to increase our guidance for expected 2021 leasing from 25 to 30 megawatts to over 30 megawatts, not including additional leasing expected from the recent acquisitions in Frankfurt and India.
Today, we announced not only the 3.6 megawatts of new leases we signed in the second quarter, but also a six-megawatt lease with a new logo to our platform that was signed post Q2 in Northern Virginia.
Taken together, along with our strong results in Q1, we have recorded a total of 19 megawatts of new and expansion leases in the first seven months of the year.
Turning back to Q2, it should be noted, of the 3.6 megawatts we leased in the quarter, the majority was in the retail and enterprise segments.
This resulted in attractive pricing for the quarter which increased 14% sequentially.
We have a new 27-megawatt greenfield build in London, adjacent to our existing London-1 facility, as well as the pending acquisition of a multi-tenant colocation data center in Frankfurt.
Taken together, this will increase our total potential capacity in Europe to more than 88 megawatts and will provide access to important interconnection markets for new and existing customers looking for a reliable, flexible and secure data center location.
And as part of our commitments, we will power our new buildings in London and Frankfurt with 100% renewable energy.
Since its inception, the Clean Start product has generated over $19 million in revenue and has uncovered 1.1 million net new cube over a three-year period.
Specifically, in the first half of 2021, Clean Start has delivered $5 million of new revenue or some 25% of the total revenue from this program since its inception three years ago.
A specific customer example in this quarter includes a $1.8 million deal with a leading global hotel chain over the next five years.
This prompted their decision to deploy our services across 103 hotels, plus an additional 15 one-off sites as required.
Just in the last year, we've had 10 healthcare vertical wins for Smart Sort with our most recent win with Johns Hopkins Medical Center.
The agreement is a five-year term which includes a $1.2 million Smart Sort move project, bringing an additional 160,000 cubic feet of inventory, representing over 4 million individual patient records.
Reflecting some of these successes, total global volume grew to a record 733 million cubic feet this quarter.
In spite of organic volume being down 10 basis points in the second quarter versus the first quarter, total global organic volume was up 1.6 million cubic feet in the first half of the year, and we continue to expect organic volume to be flat to slightly up for the full year.
On a reported basis, revenue of $1.1 billion grew 14%.
Total organic revenue increased 10%.
Organic service revenue increased $81 million or 26%, and was ahead of our expectations.
Total organic storage rental revenue grew 2.5% with continued benefit from pricing, together with positive trends in volume.
Adjusted EBITDA was $406 million.
AFFO was $246 million or $0.85 on a per-share basis.
If you recall, last year's AFFO benefited from a $23 million tax refund.
Adjusting for this, AFFO would have increased 8% year over year.
In the second quarter, our Global RIM business delivered revenue of $993 million, an increase of $116 million from last year.
On an organic basis, revenue increased 9.1%.
The team performed well with constant-currency storage rental revenue growth of 1.9% or 1.6% on an organic basis.
We added about 4.5 million cubic feet from our acquisition in Indonesia, which closed during the quarter.
Our traditional services business continued to recover from the pandemic with revenue growing 24% year over year and 4% from the first quarter.
Our Global Digital Solutions business continued to display strong momentum, growing 24% year over year.
Global RIM adjusted EBITDA was $430 million, an increase of $47 million year on year.
Adjusted EBITDA margin declined 50 basis points year over year as a result of mix given the strong service revenue growth.
Sequentially, EBITDA margin increased 110 basis points due to Project Summit benefits and the contribution from pricing.
We booked 3.6 megawatts in the quarter, and through the first half, we have booked 12.6 megawatts.
Based on the year-to-date performance and the strength of our pipeline, we increased our full-year leasing target to more than 30 megawatts, which would represent a 23% increase in bookings.
In terms of revenue, as we projected, growth accelerated sharply to 15% year over year.
Adjusted EBITDA margin of 43.4% increased 60 basis points from the first quarter and was ahead of our expectations.
Turning to Project Summit, this quarter, the team delivered $42 million of incremental year-on-year adjusted EBITDA benefit.
With the strength of the team's performance year to date, we now expect year-on-year benefits from Summit to approach $160 million, with another $50 million of year-on-year benefit in 2022.
Total capital expenditures were $136 million, of which $100 million was growth and $36 million was recurring.
With that backdrop, in the second quarter, we upsized our recycling program and generated approximately $203 million of proceeds.
Year to date, we have generated $215 million in proceeds, compared to our previous guidance of $125 million.
With our strong data center development pipeline, we are now expecting to generate full-year proceeds of approximately $250 million.
At quarter end, we had approximately $2.1 billion of liquidity.
We ended the quarter with net lease-adjusted leverage of 5.3 times, slightly better than our projection and down from both last year and last quarter.
With our strong financial position, our board of directors declared our quarterly dividend of $0.62 per share to be paid in early October.
And third, we have acquired a small records management business in Morocco that will add about $5 million in revenue.
Compared to our prior guidance, this represents a reduction of approximately $20 million of revenue and $15 million of EBITDA.
dollar is more of a headwind by nearly $20 million for revenue and $7 million for EBITDA.
For the full-year 2021, we now expect revenue of $4.415 billion to $4.515 billion.
We now expect adjusted EBITDA to be in a range of $1.6 billion to $1.635 billion.
At the midpoint, this guidance represents growth of 8% and EBITDA growth of 10%.
We now expect AFFO to be in the range of $970 million to $1.005 billion.
And AFFO per share of $3.33 to $3.45.
At the midpoint, this represents 11% and 10% growth, respectively.
For the third quarter, we expect revenue and EBITDA to both increase approximately $10 million sequentially from the second-quarter levels.
We expect AFFO to be slightly in excess of $250 million in the third quarter.

Summary:
On a reported basis, revenue of $1.1 billion grew 14%.