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Northern Virginia Office Building Trades for $71 Million

Jun 6, 2003 12:00 PM, From staff and wire reports

Corporate Office Properties Trust, a major owner of office buildings along the Baltimore/Washington corridor, this week bought a 400,000 sq. ft. office building in Herndon, Va.

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13200 Woodland Park Drive was sold for $71 million by Tishman Speyer Properties. The 13-story building is 100% occupied by telecom firm VeriSign Inc. The acquisition raises Corporate Office Properties’ ownership in the Northern Virginia/Dulles Toll Road submarket to roughly 1.2 million sq. ft. of Class-A office space.

"Northern Virginia represents an important growth market for the company, and we continue to pursue acquisition and development opportunities that can further strengthen our growing position in the region," said Randall Griffin, president and COO of Corporate Office Properties Trust.


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