COPT sells Northern Virginia properties
Corporate Office Properties Trust announced Tuesday that it has sold a pair of properties in Northern Virginia for a combined $53 million.
The Columbia-based real estate investment trust sold 5.3 acres of land for $14 million and a mid-rise office building in Falls Church for $39 million. The 190,500-square-foot building, which is 87 percent leased, is just off the Capital Beltway at Route 50.
COPT said it has an additional $10 million of asset sales under contract and $37-$47 million in contract negotiations, all of which are expected to close during 2017.
The company develops, owns and manages office and data center properties in areas that serve the U.S. government and federal contractors, particularly in national security and defense.