COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) sold its remaining operating properties and land in the White Marsh submarket of Baltimore County for $47.5 million. The portfolio contained approximately 412,500 square feet that, at June 30, 2017, were 94.8% occupied.

Since commencing its portfolio repositioning to focus resources on growing its Defense/IT real estate franchise serving the U.S. Government and supporting defense contractors, COPT has sold over $1.5 billion of assets containing more than 10.5 million square feet. Today’s portfolio sale marks the completion of the Company’s programmatic selling.

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”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets within its regional footprint with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of June 30, 2017, the Company derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of June 30, 2017, and including six buildings that are owned through an unconsolidated joint venture, its core portfolio of 153 office properties, encompassed 16.6 million square feet and was 94.8% leased. As of the same date, it also owned one wholesale data center with a critical load of 19.25 megawatts.