Corporate Office Properties Trust

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Corporate Office Properties Trust Inc. (COPT) (NYSEOFC) is a publicly traded real estate investment trust (REIT) corporation that specializes in office development, and describes itself as "a fully integrated, self-managed real estate investment trust that focuses on the acquisition, development, ownership, management and leasing of suburban office properties primarily in select Mid-Atlantic submarkets." Company headquarters is in Columbia, Maryland[1].

History[edit]

Founded in 1988, by Clay W. Hamlin III and Jay Shidler, the company was based in Philadelphia, Pennsylvania. On Sept. 29, 1998, COPT merged with Constellation Energy (NYSE: CEG) a fortune 200 company and former subsidiary of Baltimore Gas and Electric. Following the merger, COPT focused aggressively on property in Howard County, Maryland.[1]

COPT focus on Washington-Baltimore area[edit]

In 2005, the Washington Post named this company one of the "Top 125 Companies" in the Washington DC area.[2]

COPT buys land in suburban areas and then develop and manage office properties. Many tenants are defense contractors. According to the Washington Post, the company said it has leased much of the almost 2 million square feet (180,000 m²) of space at its huge complex, the National Business Park in Anne Arundel County, to government contractors such as General Dynamics Corporation, Northrop Grumman Corporation. and Lockheed Martin Corporation

Recent expansion outside Washington-Baltimore[edit]

COPT owns property primarily in submarkets within the Greater Washington, DC region, but as of 2005 [3] has begun to invest in developments outside Baltimore-Washington to include Chesterfield County, Virginia, Colorado Springs, Colorado, and parts of New Jersey, and Pennsylvania. In December 2006 COPT acquired a real estate portfolio from Towson-based Nottingham Properties for $362.5 million.[4]

Officers and Trustees[edit]

According to the company's SEC filing,[5] There are 8 members of the board of trustees. The officers, who are not members of the board, are as follows:

  • Stephen E. Budorick—Executive Vice President and Chief Operating Officer since September 2011.
  • Wayne Lingafelter—President of COPT Development and Construction Services since 2008.
  • Stephen E. Riffee—Executive vice President and Chief Financial Officer since 2006.

References[edit]

External links[edit]