Corporate Office Properties Trust recently acquired a four-story office building totaling 117,803 square feet in Frederick, Md. The value of the transaction was $17 million. The class A property is located at 110 Thomas Johnson Drive. The company acquired the building from Farmers and Mechanics Bank (F&M), a subsidiary of Mercantile Bancshares Corp. F&M will lease back 58 percent of the rentable square footage of the office building for 10 years. The acquisition includes 21.4 acres of land capable of supporting the development of approximately 80,000 square feet of new office space, in addition to the existing space. Corporate Office Properties Trust is a fully integrated, self-managed real estate investment trust operating primarily in select Mid-Atlantic submarkets. *** W...
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