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Corporate Office Acquires Four-Building Portfolio

COLUMBIA, MD-With this deal, the REIT has acquired an additional 187,132 sf in the Columbia Gateway office park, bringing its total holdings to 14 buildings and 900,000 sf of space.

By Marlon Millner | Updated on August 31, 2001

COLUMBIA, MD-Corporate Office Properties Trust has acquired four buildings in the Columbia Gateway office park, which total 187,132 sf. The value of the properties was not release, but Corporate Office did say the acquisition was done at a capitalization rate of 10.7 percent, and the four buildings are 100 percent leased with long-term leases.

The office building –7061, 7063, 7065 and 7067 Columbia Gateway Drive–are one- and two-story buildings. Columbia Gateway is a 630-acre business community located at the intersection of Route 175 and Interstate 95. With this transaction, Corporate Office now owns 14 buildings at Columbia Gateway, totaling 900,000 sf. The real estate investment trust also owns a 9.6-acre site in the office park where two additional 125,000-sf buildings could be constructed.

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