COPT Buys 21 Buildings for $125M

HUNT VALLEY, MD-Corporate Office Properties Trust has acquired two Baltimore County office portfolios accounting for 21 buildings and just over 1 million sf. The Columbia, MD-based firm bought the portfolios from Chicago-headquartered General Growth Properties for approximately $124.5 million, or $112 per sf.

The first group involves seven structures covering 705,000 sf in Hunt Valley, MD’s Hunt Valley Business Community, a 435-acre corporate park with 2.1 million sf of office and R&D space. In Woodlawn, MD, COPT took over ownership of 14 buildings with 402,000 sf at the 289-acre Rutherford Business Center, which features 1.5 million sf of office, R&D and light industrial space.