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COPT closes 2016 with $344 million in sales

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COPT closes 2016 with $344 million in sales

Corporate Office Properties Trust said Tuesday it closed $54.1 million in office and land sales in the final months of 2016, including four deals in the Baltimore area.

The Columbia-based real estate investment trust, which has been scaling back its portfolio, closed $344 million in dispositions for the year and has another $105 million planned for 2017. The firm had previously told investors its goal was to complete about $440 million in sales in 2016.

The properties sold in the fourth quarter totaled about 450,000 square feet in buildings and about 100 acres.

In the Baltimore region that included 17 acres in Nottingham Ridge in White Marsh for $12.15 million and 4940 Campbell Drive, a roughly 50,000-square-foot office building in White Marsh, for $5.2 million. The firm also sold a 100,000 square-foot building at 900 Elkridge Landing Road in Linthicum, and 1331 Ashton Road in Hanover.