Corporate Office Properties Trust Announces Full-Building Lease in Sentry Gateway Office Park
- Sep 08, 2014
Corporate Office Properties Trust announced the execution of a full-building lease with the U.S. government. The building is currently under construction in the REIT’s Sentry Gateway office park and will encompass approximately 160,500 square feet.
The completion date for the office building is set for the fourth quarter of 2014, with the lease start date scheduled for the first quarter of 2016. As a consequence of the major leasing transaction, COPT’s construction pipeline, currently at 1.1 million square feet, reached a leasing percentage of 65, up from 50 percent on July 24, 2014.
“Upon completion of this building, Sentry Gateway will consist of 953,000 square feet that are fully leased to strategic tenants,” stated Roger Waesche Jr., COPT’s President & CEO. “We are proud of our success in San Antonio, and look forward to supporting the future growth needs of our strategic customers in that market.”
Corporate Office Property Trust is headquartered in the Greater Washington, D.C., region and focuses primarily on meeting the specialized demands of U.S. Government agencies and defense contractors that are mostly engaged in defense information technology and national security-related processes.