Corporate Office Properties Trust Announces
Patriot Ridge Development in Springfield,
May 19, 2010 08:03 AM Eastern Daylight Time
COLUMBIA, Md.--(EON: Enhanced Online News)--Corporate Office Properties Trust (COPT) (NYSE: OFC)
announced today that it has entered a new submarket with control of approximately 15 acres and the development
potential of between 800,000 and 980,000 square feet. This project, known as Patriot Ridge, is located in the
Northern Virginia submarket of Springfield. Construction of the first building, consisting of approximately 240,000
square feet, is targeted to start in the fourth quarter of 2010.
Patriot Ridge is located adjacent to the new National Geospatial Intelligence Agency (NGA) headquarters currently
under construction. NGA is a Department of Defense combat support agency and is the third largest agency of the
17 agencies making up the U.S. Intelligence Community. The NGA will occupy a 2.4 million square foot facility
which will be located at Fort Belvoir. NGA develops imagery and map-based intelligence solutions for U.S. national
defense, homeland security and safety of navigation.
Fort Belvoir is the beneficiary of the largest BRAC gain of any military installation in the country. The implementation
of BRAC at Fort Belvoir includes 20 separate projects comprising nearly 6.2 million square feet of building space to
support approximately 19,300 personnel relocating to Fort Belvoir.
“Our expansion into Springfield fits within our Super Core strategy of locating adjacent to government demand
drivers,” stated Randall M. Griffin, President and Chief Executive Officer of Corporate Office Properties Trust. “Our
site will provide superior speed to market, visibility, access and proximity to serve critical missions relocating to Fort
Belvoir as a result of BRAC,” he added.
Corporate Office Properties Trust (COPT) (NYSE: OFC) is a specialty office real estate investment trust (REIT)
that focuses on strategic customer relation