Corporate Office Properties Trust (“COPT” or the “Company”) has executed long-term leases with a subsidiary of an investment-grade Fortune 500 company to deliver one 152,500 square foot shell building in the fourth quarter of 2016 and one 215,500 square foot shell building in the second quarter of 2017 within the Bethlehem Technology Park located in Prince William County, Virginia, on approximately 62 acres of land the Company recently purchased.
COPT is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support United States Government agencies and their contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing priority missions (“Defense/IT Locations”). COPT also owns a complementary portfolio of traditional Class-A office properties located in select urban/urban-like submarkets within its regional footprint (“Regional Office Properties”). As of March 31, 2016, COPT derived 86% of core portfolio annualized revenue from Defense/IT Locations and 14% from its Regional Office Properties. As of March 31, 2016, COPT’s core portfolio of 153 office properties encompassed 16.6 million square feet and was 93.3% leased.