COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) has executed two leases totaling 170,000 square feet for two new developments aggregating 185,000 square feet that are 92% pre-leased as follows:

Build-to-Suit Project in Northern Virginia. COPT signed a long-term lease with a subsidiary of an investment-grade Fortune 500 company to deliver a 149,000-square foot building on land the Company owns in Northern Virginia. The Company expects to deliver the building in the third quarter of 2018.

60% Pre-Lease for New Redstone Gateway Development. The Company executed a lease for approximately 60% of 4100 Market Street, a single story office building to be developed at Redstone Gateway in Huntsville, Alabama. The anchor tenant signed a pre-lease for 21,000 of the project’s 36,000 total square feet. The 14-year lease is expected to commence in the fourth quarter of 2018.

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 September 30, 2017, the Company derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of September 30, 2017 and including six buildings owned through an unconsolidated joint venture, COPT’s core portfolio of 153 office properties encompassed 16.7 million square feet and was 95.1% leased. As of the same date, the Company also owned one wholesale data center with a critical load of 19.25 megawatts.