COPT Defense Executes 48,000 SF Lease with a Top 10 U.S. Defense Contractor at Franklin Center in Columbia Gateway
COLUMBIA, Md.–(BUSINESS WIRE)–
COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) has executed a 10-year lease with a top 10 U.S. Defense Contractor for 48,100 square feet at 6841 Benjamin Franklin Drive (“Franklin Center”) in Columbia Gateway.
With this transaction, Franklin Center is now 80% leased, with 41,000 square feet of remaining availability.
Overall, the Company’s 2.5 million square foot Columbia Gateway portfolio is now 92.0% leased, with only 200,000 square feet of availability.
About COPT Defense
COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (“USG”) defense installations and missions (referred to as its Defense/IT Portfolio). The Company’s tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. As of December 31, 2024, the Company’s Defense/IT Portfolio of 195 properties, including 24 owned through unconsolidated joint ventures, encompassed 22.4 million square feet and was 96.8% leased.
Forward-Looking Information
This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.
The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
Source: COPT Defense Properties
View source version on businesswire.com: https://www.businesswire.com/news/home/20250303936179/en/
IR Contacts:
Venkat Kommineni, CFA
443.285.5587
[email protected]
Michelle Layne
443.285.5452
[email protected]
KEYWORDS: United States North America District of Columbia Maryland
INDUSTRY KEYWORDS: Commercial Building & Real Estate Construction & Property Defense Finance Contracts Asset Management Professional Services REIT
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