Located at Route 175 and I-95, the building transferred ownership from Columbia AS LLC to Honeywell in 2000 in a $15.3 million transaction. The building carries a current assessment value of approximately $12.2 million.
"We acquired the Class A property for less than $110 per-sf, which is substantially below replacement cost," says COPT president and COO Randall M. Griffin. "With this transaction, we have acquired approximately $32 million of properties thus far in 2002 and we continue to have an active pipeline of potential additional acquisition opportunities." COPT now owns more than 1 million sf in the 4 million-sf office park.
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