Columbia-based COPT sells $210.7 mil­lion in properties

Baltimore Sun - - VARSITY - —Natalie Sher­man —Natalie Sher­man

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.

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