Corporate Office Properties Trust Signs 120,000 Square Foot, Ten-Year Lease With Ameritrade Holding Corporation.BALA CYNWYD, Pa.--(BUSINESS WIRE)--Aug. 5, 1999-- 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 that it has signed a ten-year lease with Ameritrade Holding Corporation (Nasdaq:AMTD AMTD Arithmetic Mean Temperature Difference AMTD Automatic Magnetic Tape Distribution AMTD Affordability and Manufacturing Technology Demonstration ) to occupy the Company's entire 120,000 square foot suburban office building currently under construction in Annapolis Junction, Maryland Maryland (mâr`ələnd), one of the Middle Atlantic states of the United States. It is bounded by Delaware and the Atlantic Ocean (E), the District of Columbia (S), Virginia and West Virginia (S, W), and Pennsylvania (N). . Corporate Development Services, a subsidiary of Corporate Office Properties, broke ground on the $18.1 million project in mid-June. The four-story, Class A office building is located at the intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of MD Route 295 and Route 32 in the National Business Park, a 175-acre commercial office park. The Company expects to complete construction and deliver the project to Ameritrade by Spring 2000. "Ameritrade conducted an exhaustive, multi-state search for its East Coast operations and this is a major win for the State of Maryland, Anne Arundel County and Corporate Office Properties," stated Rand Rand See Witwatersrand. rand 1 n. See Table at currency. [Afrikaans, after(Witwaters)rand. 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. "In addition, the transaction demonstrates the benefits of our tenant relationships and our ability to accommodate our tenants' expansion needs with our development pipeline and highly-skilled development team. Because we control 70 acres of land for future office development at the National Business Park and because Ameritrade is an existing, valued tenant of ours, the transaction worked perfectly for both companies. With the completion of this project, we will own seven office buildings in the National Business Park, totaling 785,000 rentable square feet that is currently 98.8% leased," he added. Ameritrade intends to establish a key new technology facility at the property to develop new software and user-friendly technology for Ameritrade customers. The facility also will house a computer data center that will serve as a backup to the company's other facilities in Omaha, Nebraska “Omaha” redirects here. For other uses, see Omaha (disambiguation). Omaha is the largest city in the State of Nebraska, United States. It is the county seat of Douglas County.GR6 As of the 2000 census, the city had a population of 390,007. and Fort Worth, Texas Fort Worth is the fifth-largest city in the state of Texas, 18th-largest city in the United States[1], and voted one of "America’s Most Livable Communities. . "The new center will play a key role in supporting Ameritrade's intention to set the technological standard of excellence in online brokerage services," said Jim Ditmore, Chief Information Officer of Ameritrade. The company has announced plans to spend more than $100 million on enhanced technology. About Ameritrade Holding Corporation Ameritrade Holding Corporation is a pioneer in the discount and online brokerage industry. The Company provides brokerage services and clearing services to self-directed individual consumer, investors and other financial institutions through its subsidiaries. Company Information Corporate Office Properties Trust is a fully-integrated, self-managed real estate investment trust which focuses on the ownership, management, leasing, acquisition, and development of suburban office properties located in select mid-Atlantic submarkets. The company currently owns 59 office properties totaling 4.7 million rentable square feet. In addition, the company's property management subsidiary, Corporate Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Management, manages 118 commercial properties totaling over 9 million rentable square feet for third parties and its development company, Corporate Development Services, provides a wide range of development and construction management services. Forward-Looking Information This press release contains forward-looking information based upon the Company's current best judgement and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with the forward-looking information include the strength of the commercial office real estate market in which the Company operates, competitive market conditions, and general economic growth. For further information, please refer to the Company's filings with the Securities and Exchange Commission. |
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