COPT PURCHASES THREE-BUILDING OFFICE PORTFOLIO FOR $40.5 MILLION
SAN ANTONIO — Corporate Office Properties Trust (COPT) has acquired three office buildings for a total of $40.5 million. Two of the buildings are located in San Antonio; known as 151 Technology Center, the buildings were acquired for $17.3 million. The two-story buildings are located at 1560 Cable Ranch Rd. and total 122,975 square feet. Both are fully occupied, with prominent tenants including Sears, Air Force Federal Credit Union and AFNI. The third building in the transaction, the 124,305-square-foot Cresterra building located in Colorado Springs, Colo., was acquired for $23.2 million. COPT’s San Antonio portfolio now consists of four office buildings totaling 601,000 square feet; two office buildings currently under construction that total 91,000 square feet; and 58 acres of land that can support approximately 725,000 square feet of development.