COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE:OFC) completed a 38,000 square foot lease with a defense contractor at 8800 Redstone Gateway, a 76,000 square foot building under construction at Redstone Gateway—COPT’s mixed-use, Class-A development that supports Redstone Arsenal in Huntsville, AL. For more information, please refer to the Company’s related press kit on its Investors website, and as follows:

https://investors.copt.com/file/103010/Index?KeyFile=1001249327

The lease represents approximately 50% of the building’s rentable square feet. With this transaction, COPT’s active construction pipeline of 1.1 million square feet in nine separate developments is now 84% leased.

Company Information

COPT is a REIT that owns, manages, leases, 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 what it believes are growing, durable, priority missions (“Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets in the Greater Washington, DC/Baltimore region with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of December 31, 2018, the Company derived 88% of its core portfolio annualized revenue from Defense/IT Locations and 12% from its Regional Office Properties. As of the same date and including six buildings owned through an unconsolidated joint venture, COPT’s core portfolio of 161 office and data center shell properties encompassed 17.9 million square feet and was 94.0% leased; the Company also owned one wholesale data center with a critical load of 19.25 megawatts.