Corporate Office Properties Trust Purchases Nine-Acre Parcel in Columbia Gateway Business Park.Business Editors COLUMBIA, Md.--(BUSINESS WIRE)--March 31, 2000 125,000 square foot office building slated for site Company plans to acquire adjacent acreage for construction of two additional buildings, for total of 375,000 square feet Corporate Office Properties Trust Corporate Office Properties Trust Inc. (COPT) (NYSE: OFC) is a publicly-traded real estate investment trust (REIT) corporation that specializes in office development, and describes itself as "a fully integrated, self-managed real estate investment trust that focuses on the (NYSE NYSE See: New York Stock Exchange : OFC OFC Office OFC Officer OFC Of Course OFC Oxygen Free Copper OFC Oceania Football Confederation (soccer) OFC Optical Fiber Cable OFC Optical Fiber Communications OFC Optical Fiber Conference ) announced today the acquisition of a 9.6 acre parcel in the Columbia Gateway Business Park. The Company intends to construct a five-story, 125,000 square foot Class A office building on the site, with groundbreaking expected to commence late this Spring and delivery scheduled for Spring 2001. The Company has the option to acquire a contiguous 9.6 acre site that can support the construction of two additional 125,000 square foot office buildings, bringing the cumulative amount of new space at Gateway Exchange to approximately 375,000 square feet. Upon final completion of these three projects, the Company will have ownership of nine office buildings in Columbia Gateway, representing more than 800,000 square feet of space. It will also increase the Company's presence in the Baltimore/Washington corridor The Baltimore/Washington corridor is between Washington, D.C. and Baltimore, MD, consisting principally of Anne Arundel, Howard, Montgomery and Prince George's counties. to more than four million square feet of office space among 51 buildings. "This strategic acquisition provides the Company with the opportunity to develop an outstanding office campus on the premiere office site in Columbia Gateway Business Park," stated Randall M. Griffin, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Corporate Office Properties. "We have a number of large clients looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the type of corporate campus presence that Gateway Exchange will provide," he added. Columbia Gateway, positioned at the intersection of Interstate 95 and MD Route 175 in Howard County Howard County is the name of seven counties in the United States of America:
Company Information Corporate Office Properties Trust is a fully-integrated, self-managed real estate investment trust which focuses on the ownership, development, management and acquisition of suburban office properties located in targeted suburban submarkets in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company presently owns 77 office properties totaling 5.9 million square feet of space. In addition, the Company's property management company, Corporate Realty Management, manages more than 16 million square feet for the Company and third parties. Corporate Development Services, the Company's development company, provides a wide range of development and construction management services. For more information, visit Corporate Office Properties' website at www.copt.com. |
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