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Home>2100 L Street Development 43% Pre-Leased with Execution of 81,300 SF Lease with Morrison & Foerster

2100 L Street Development 43% Pre-Leased with Execution of 81,300 SF Lease with Morrison & Foerster

2100 L Street Development 43% Pre-Leased with Execution of 81,300 SF Lease with Morrison & Foerster

10/03/2017

2100 L Street Development 43% Pre-Leased with Execution of 81,300 SF Lease with Morrison & Foerster

Corporate Office Properties Trust (“COPT” or the “Company”) (NYSE: OFC), through its joint venture with Akridge, has executed an 81,300 square foot lease with Morrison & Foerster LLP (“MoFo”) at the venture’s 2100 L Street, N.W. development project (“2100 L”) in the central business district submarket of downtown Washington, DC. The venture plans to commence construction of the 190,000 square foot trophy office building in the second quarter of 2018, with completion expected in the first quarter of 2020. MoFo’s 15-year lease is scheduled to commence in January of 2021. With this transaction, the building is 43% pre-leased; accounting for the 10,000 square feet allotted for street-level retail space, 2100 L’s office square footage is 45% pre-leased.

About Morrison & Foerster

Morrison & Foerster (“MoFo”) is a leading global law firm whose more than 950 lawyers serve its global client base from 16 offices in the United States, Asia and Europe. MoFo is a leader in a broad range of legal fields, including litigation, financial services, intellectual property and technology, and transactional work, such as corporate, capital markets and real estate finance representations. For more information please visit www.mofo.com.

About Akridge

Akridge is a comprehensive real estate services company that has invested in the Washington Metropolitan area for over four decades. It provides acquisitions, design and construction management, development, finance and asset management, leasing, and property management services. For over forty years, the company has acquired, developed, or entitled more than 14.2 million square feet of office, industrial flex, residential, retail, and entertainment space. Akridge has another 9 million square feet in its active pipeline, currently manages approximately 3.6 million square feet, and has a portfolio with an estimated value of over $2.0 billion. Notable projects include the 1-million-square-foot Gallery Place, the internationally recognized Homer Building, and the 3-million-square-foot Burnham Place air rights development project at Union Station. For more information please visit www.akridge.com.

Company Information

COPT is an office REIT that owns, manages, develops and selectively acquires office and data center properties in locations that support the United States Government and its contractors, most of whom are engaged in national security, defense and information technology (“IT”) related activities servicing priority missions (“Defense/IT Locations”). The Company also owns a portfolio of office properties located in select urban/urban-like submarkets within its regional footprint with durable Class-A office fundamentals and characteristics (“Regional Office Properties”). As of June 30, 2017, the Company derived 87% of core portfolio annualized revenue from Defense/IT Locations and 13% from its Regional Office Properties. As of June 30, 2017, and including six buildings that are owned through an unconsolidated joint venture, its core portfolio of 153 office properties encompassed 16.6 million square feet and was 94.8% leased. As of the same date, it also owned one wholesale data center with a critical load of 19.25 megawatts.

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