COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) has executed two long-term leases with a subsidiary of an investment-grade Fortune 500 company to deliver two, 148,600-square foot buildings on land the Company acquired in Ashburn, VA (“Paragon Park”). The Company expects to deliver one building in the fourth quarter of 2017, and the second building in the first quarter of 2018.

Including this transaction, the Company has completed 355,000 square feet of development leasing, or approximately half of its 2017 goal of 700,000 square feet.

Company Information

COPT is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing priority missions (“Defense/IT Locations”). We also own a portfolio of office properties located in select urban/urban-like submarkets within our regional footprint with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of March 31, 2017, we derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from our Regional Office Properties. As of March 31, 2017, and including six buildings owned through an unconsolidated joint venture, our core portfolio of 152 office properties, encompassed 16.3 million square feet and was 94.2% leased. As of the same date, we also owned one wholesale data center with a critical load of 19.25 megawatts.