Corporate Office Properties Trust Signs 150,000 Square Foot Lease in Columbia, Maryland.Business Editors COLUMBIA, Md.--(BUSINESS WIRE)--Dec. 19, 2002 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 ), the largest owner of office space 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. , announced today that it has executed a 150,000 square foot, long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. lease with a large, credit worthy tenant on Route 108 in Columbia, Maryland Columbia is a census-designated place and planned community in Howard County, Maryland, United States. It is a suburb of Baltimore, and, to a lesser degree, Washington, DC. It began with the idea that a city could enhance its residents' quality of life. . The lease encompasses the entire building, which was previously leased to Bookham Technology, Inc. "This type of transaction, involving the replacement of an existing tenant with a very strong, financially sound tenant, is indicative of the type of leasing activity that we have been experiencing this year and have seen accelerate in recent months," 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. . "Importantly, given the increasing demand for space in our core markets, we are able to release space at strong rental rates with minimal capital investment. As a result, our trademark, long-term tenant credit quality, and the stability of our cash flow, continues to strengthen." 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 111 office properties totaling 9.0 million rentable square feet, including one property held through a joint venture. Corporate Development Services, the Company's development company, provides a wide range of development and construction management services. In addition, Corporate Office Services provides land planning, design/build services, consulting and merchant development to fourth party entities. The Company's shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol OFC. More information on Corporate Office Properties Trust can be found on the Internet at www.copt.com. Forward-Looking Information This press release contains forward-looking information based upon the Company's current best judgment 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, general economic growth, interest rates and capital market conditions. For further information, please refer to the Company's filings with the Securities and Exchange Commission. |
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