COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) has completed the sale of Arborcrest Corporate Campus, its class-A redevelopment office project in Plymouth Meeting, Pennsylvania, for $143 million. The campus consists of four operating properties totaling 654,000 square feet that are 100% leased, plus 785 Jolly Road, an approximate 190,000 square foot redevelopment opportunity, and 27 acres of additional land. To date, the Company has completed $222 million of asset sales, or slightly more than half of its 2016 sales goal of $440 million.

Company Information

COPT is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support United States Government agencies and their contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing priority missions (“Defense/IT Locations”). COPT also owns a complementary portfolio of traditional Class-A office properties located in select urban/urban-like submarkets within its regional footprint (“Regional Office Properties”). As of June 30, 2016, COPT derived 86% of core portfolio annualized revenue from Defense/IT Locations and 14% from its Regional Office Properties. As of June 30, 2016, COPT’s core portfolio of 146 office properties encompassed 16.0 million square feet and was 93.8% leased.