By Lorraine Mirabella, The Baltimore Sun
1:58 PM EDT, April 4, 2012
Corporate Office Properties Trust said it sold office buildings in White Marsh, Hunt Valley and Hanover as part of $61 million in property and land sales in the first three months of the year.
The Columbia-based office real estate investment trust primarily serves government and defense-related tenants.
The sales are part of a strategy, announced in April 2011, to shed non-core holdings such as suburban office complexes and focus on high-security buildings designed for government agencies and contractors. COPT has since sold $139 million worth of properties and land, realizing net proceeds of $130.6 million.
The recent sale included six office buildings in White Marsh and one in Hunt Valley that are 80 percent occupied with a total 219,000 square feet. Two other buildings are vacant, including one in Hanover and one in San Antonio, Tx.
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