Located off Rte 50, the two-story structure on Riva Rd. is a secure investment, as it is leased to maximum capacity for a 15-year term by Internet service provider Uninternetworking Inc, which has its headquarters in the building. The sprawling 12-acre property also offers development space, although COPT has not yet revealed if there are any plans for building up that area.

"This expansion is a natural extension for our company since Annapolis is adjacent to the Baltimore/Washington Corridor market and is an attractive alternative location between Baltimore and Washington," COPT president and COO Randall M. Griffin says. "We would expect to purchase additional properties with the goal of becoming a leading owner of office space in this fragmented, but solid market."