CDP - Mergers and acquisitions

COPT Defense Properties (NYSE:CDP) ("COPT Defense" or the "Company") announced the acquisition of Stonegate I, a 142,000 square foot Class A office building at 15050 Conference Center Drive in Chantilly, VA for a gross purchase price of $40.2 million. The Class A office building is fully occupied by a top 20 U.S. Defense Contractor with 10 years of lease term remaining, making this their ninth location in the Company's portfolio. Stonegate I was constructed in 2000 and is within a 1-mile radius of the Company's 1.5 million square foot Westfields office portfolio, which is 94% leased. Stephen E. Budorick, COPT Defense's President & Chief Executive Officer, commented, "This acquisition exce

COPT Defense Properties (NYSE:CDP) ("COPT Defense" or the "Company") acquired a 365-acre land parcel near Des Moines, Iowa in late September for $32 million to expand its data center shell program. The existing zoning on the land allows for data center development and initial plans indicate that the site can accommodate approximately 3.3 million square feet of development, supported by an estimated 1 gigawatt of power capacity. Also, late in the third quarter, the Company acquired an 80,000 square foot building at 3900 Rogers Road in San Antonio, Texas for $17 million. The building was vacant upon acquisition, and the Company subsequently executed two leases with the U.S. Government to occ

COPT Defense Properties (NYSE:CDP) ("COPT Defense" or the "Company") announced the acquisition of a 202,000 square foot Class A building, located in Columbia Gateway at 6841 Benjamin Franklin Drive in Columbia, Maryland, for $15 million. The 7-story LEED Gold Certified building was constructed in 2008 and is 56% leased to a leading defense contractor. Stephen E. Budorick, COPT Defense's President & Chief Executive Officer, commented "This acquisition solidifies our position as the dominant owner in Columbia Gateway, enhances our relationship with a top 10 U.S. defense contractor, adds 202,000 square feet of modern, well-amenitized space to our 2.3 million square foot Columbia Gateway camp