Columbia-based COPT sells $210.7 million in properties
Corporate Office Properties Trust announced Monday it closed on $210.7 million in property sales in the third quarter. The sales by the Columbia-based real estate investment trust included 148,000 square feet on Corporate Drive in White Marsh; and more than 300,000 square feet in the Baltimore Washington corridor, including properties on Ashton Road in Hanover and Concourse Drive in Linthicum Heights. All told, the firm disposed of nearly 1.3 million square feet in the three months that ended Sept. 30. The firm, which develops and owns office buildings with primarily defense-related tenants, said in July it was planning the sales as part of a more refined investment strategy introduced by its new CEO. It has sold $290.2 million of properties so far this year and is expecting to complete $440 million in dispositions by the end of 2016. analysis, based on metrics that ranged from Internet download speed to venture capital investment, identified Baltimore as one of19 regions competing in the global economy based on the talent of its workforce and quality of its educational institutions. Other cities in the category included Austin, Texas; Boston; Philadelphia; Stockholm and Zurich. The Brookings report analyzed the 123 largest urban economies, which together house about13 percent of the world’s population and produce about one-third of global GDP. The report identified seven types of cities based on the metrics, including “global giants,” such as New York and Tokyo, distinguished by their size, wealth and cluster of financial services firms; and Asian anchors, such as Beijing and Hong Kong.