Corporate Office Properties Trust Acquires
152,000 Square Foot Office Building for $40
Million in Tysons Corner, Virginia
June 29, 2010 09:12 AM Eastern Daylight Time
COLUMBIA, Md.--(EON: Enhanced Online News)--Corporate Office Properties Trust (COPT) (NYSE: OFC)
announced today the acquisition of a Class A office building containing approximately 152,000 square feet known as
the Rappahannock Building in Tysons Corner, Virginia for $40 million. The six-story office building is 100% leased
to The MITRE Corporation. The Rappahannock Building is located at 1550 Westbranch Drive in the Tysons
Corner submarket of Virginia and is near I-495 and the Dulles Toll Road.
This represents COPT’s second acquisition in Tysons Corner. The first was Pinnacle Towers, totaling approximately
450,000 square feet in 2005. The Company’s Tysons Corner portfolio now consists of 3 buildings with about
600,000 square feet.
“This acquisition fits within our Super Core strategy of developing and acquiring properties leased primarily to the
U.S. Government, Defense IT and Data sector tenants. MITRE is a growing tenant within our portfolio and we are
happy to further develop our relationship with them,” stated Randall M. Griffin, President and Chief Executive
Officer of Corporate Office Properties Trust. “This is an excellent building in a prime location that further improves
the quality of our Northern Virginia portfolio,” he added.
Corporate Office Properties Trust (COPT) (NYSE: OFC) is a specialty office real estate investment trust (REIT)
that focuses on strategic customer relationships and specialized tenant requirements in the U.S. Government, Defense
Information Technology and Data sectors. The Company acquires, develops, manages and leases properties which
are typically concentrated in large office parks primarily located adjacent to government demand drivers and/or in
growth corridors. As of March 31, 2010, the Company owned 268 office and data properties totaling 20million