Corporate Office Properties Trust said Monday that it had sold two office buildings and land in Rockville for about $48.7 million, part of the Columbia-based real estate investment trust's strategy of selling off non-core assets.
COPT, which develops, owns and manages office buildings primarily for government agencies and contractors in the defense information sector, has sold $116.9 million worth of properties and land since the beginning of the year.
Since last April, the company has been selling suburban office buildings to focus on high-security offices for defense tenants. It has sold a total of $193.5 million worth of properties and adjacent land, realizing net proceeds of $179.3 million.
The Montgomery County buildings, known as the Rockville Corporate Center, totaled 222,000 square feet and were fully leased, COPT said.