Corporate Office Properties Trust
Encyclopedia
Corporate Office Properties Trust Inc. (COPT) 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
http://hoovers.com/free/search/simple/xmillion/index.xhtml?query_string=Corporate+Office+Properties+Trust&which=company&page=1&search_x=22&search_y=16.
. 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
.
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
, 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.
filing, There are 8 members of the board of trustees. The officers, who are not members of the board, are as follows:
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
(REIT) corporation that specializes in office development, and describes itself as "a fully integrated, self-managed real estate investment trust
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
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
Columbia, Maryland
Columbia is a planned community that consists of ten self-contained villages, located in Howard County, Maryland, United States. It began with the idea that a city could enhance its residents' quality of life. Creator and developer James W. Rouse saw the new community in terms of human values, not...
http://hoovers.com/free/search/simple/xmillion/index.xhtml?query_string=Corporate+Office+Properties+Trust&which=company&page=1&search_x=22&search_y=16.
History
Founded in 1988, the company was based in Philadelphia, PennsylvaniaPhiladelphia, Pennsylvania
Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...
. On Sept. 29, 1998, COPT merged with Constellation Energy
Constellation Energy
Constellation Energy, headquartered in Baltimore, Maryland, is an energy producer, trader, and distributor. The company operates over 35 power plants in 11 states under its operating company Constellation Commodities Group and/or Constellation Generation Group...
(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
Howard County, Maryland
-2010:Whereas according to the 2010 U.S. Census Bureau:*62.2% White*17.5% Black*0.3% Native American*14.4% Asian*0.0% Native Hawaiian or Pacific Islander*3.6% Two or more races*2.0% Other races*5.8% Hispanic or Latino -2000:...
.
COPT focus on Washington-Baltimore area
In 2005, the Washington Post named this company one of the "Top 125 Companies" in the Washington DC area .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
Northrop Grumman
Northrop Grumman Corporation is an American global aerospace and defense technology company formed by the 1994 purchase of Grumman by Northrop. The company was the fourth-largest defense contractor in the world as of 2010, and the largest builder of naval vessels. Northrop Grumman employs over...
Corporation. and Lockheed Martin
Lockheed Martin
Lockheed Martin is an American global aerospace, defense, security, and advanced technology company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in Bethesda, Maryland, in the Washington Metropolitan Area....
Corporation
Recent expansion outside Washington-Baltimore
COPT owns property primarily in submarkets within the Greater Washington, DC region, but as of 2005 has begun to invest in developments outside Baltimore-Washington to include Chesterfield County, VirginiaChesterfield County, Virginia
Chesterfield County is a county located in the Commonwealth of Virginia, a state of the United States. In 2010, its population was estimated to be 316,236. Chesterfield County is now the fourth-largest municipality in Virginia . Its county seat is Chesterfield...
, Colorado Springs, Colorado
Colorado Springs, Colorado
Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in South-Central Colorado, in the southern portion of the state. It is situated on Fountain Creek and is located south of the Colorado...
, and parts of New Jersey, and Pennsylvania. In December 2006 COPT acquired a real estate portfolio from Towson
Towson, Maryland
Towson is an unincorporated community and a census-designated place in Baltimore County, Maryland, United States. The population was 55,197 at the 2010 census...
-based Nottingham Properties for $362.5 million.
Officers and Trustees
According to the company's SECUnited States Securities and Exchange Commission
The U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...
filing, There are 8 members of the board of trustees. The officers, who are not members of the board, are as follows:
- Randall M. Griffin -- Since September 1998, The company president& CEO
- Roger A. Waesche, Jr., -- Senior Vice President since September 1998 and Chief Financial Officer since March 1999.
- John H. Gurley -- Secretary, Senior Vice President and General Counsel since September 1998.
- Michael D. Kaiser -- President of Corporate Realty Management, LLC ("CRM") since April 1996 and President of Corporate Management Services, LLC, an indirect subsidiary since January 2000.
- Dwight S. Taylor -- President of Corporate Development Services, LLC ("CDS") since September 1999, previously serving as Senior Vice President since joining CDS in September 1998.
External links
- http://www.copt.com/compro.html
- http://www.cpnonline.com/cpn/article_display.jsp?vnu_content_id=1002540969
- http://www.washingtonpost.com/wp-srv/business/post200/2005/OFC.html