COPT sells last of its White Marsh properties for $47.5 million

Corporate Office Properties Trust, a Columbia-based Real Estate Investment Trust, has sold its remaining White Marsh properties for $47.5 million.

The portfolio sold to Fernau LeBlanc Investment Partners included eight properties, totaling about 412,500 square feet of space, and 42 acres of land.

The White Marsh properties, which were nearly 95 percent occupied, are located on Corporate Drive, Sandpiper Circle and Nottingham Ridge Road.

The properties add to Fernau LeBlanc’s portfolio in the Baltimore area. The Bethesda-based firm has about 195,000 square feet of space at the Menlo Industrial Park in Baltimore, an office complex in Columbia and smaller buildings in White Marsh.

The deal is part of COPT’s “portfolio repositioning” to focus on defense and information technology real estate, the firm said in a statement.

As part of the shift, COPT has sold a total of $1.5 billion of assets with more than 10.5 million square feet.

sarah.gantz@baltsun.com

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