COPT Announces New Build-to-Suit Project In Ashburn, VA - Quick Facts

(RTTNews) - Corporate Office Properties Trust or COPT (OFC) has executed a long term lease with an unit of an investment-grade Fortune 500 company to deliver a 120,000 square foot shell building on land the Company owns in Ashburn, VA. This will be the third building of a three building campus for this customer, which now leases 430,000 square feet at Ashburn Crossing. The firm has commenced construction of the building in anticipation of a lease start date in the second quarter of 2015.

COPT is an office REIT that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of which are engaged in defense information technology and national security-related activities. As of September 30, 2014, COPT derived 77% of its annualized revenue from its strategic tenant niche properties and 23% from its regional office properties.