COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (NYSE: OFC) has completed the sale of two single-tenant assets for $73.5 million. The assets are located in central and southwestern Virginia, which are outside the Company’s core markets. Both assets were 100% occupied at the time of sale. The Company will recycle the proceeds into build-to-suit data center shell development projects.

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 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. 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, the Company’s core portfolio of 153 office properties encompassed 16.7 million square feet that were 95.1% leased. As of the same date, COPT also owned one wholesale data center with a critical load of 19.25 megawatts.