COPT Leases Another 51,000 Square Feet in Blue Bell, PA
Corporate Office Properties Trust (NYSE: OFC) has executed a lease with a commercial tenant that serves the pharmaceutical and biotech industries for 51,000 square feet at Hillcrest II, the Company's most recent redevelopment start at its business park in Blue Bell, Pennsylvania. The building, which will comprise 184,000 square feet upon completion, was 28% leased at October 17, 2012, and is now approximately 55% leased. The Company anticipates the tenant will occupy the building during the second quarter of 2013.
As a result of this lease, the Company's redevelopment pipeline, which was 36% leased at October 17, 2012, is now approximately 54% leased.
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