COPT dumps Brown’s Wharf

Investment trust refocuses strategy

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Corporate Office Properties Trust (COPT) sold Brown's Wharf, a 104,203-square-foot property with a mix of office and retail tenants, located in Baltimore, MD. The value of the transaction was $20.3 million. The three- and four-story property is located at 1615-1637 Thames St. in the historic district of Fells Point. The identity of the buyer was not disclosed. "This sale is a continuation of the company's strategy to dispose of noncore assets," said COPT President and CEO Randall M. Griffin. "The proceeds from this sale will be recycled to fund the company's acquisition activity." Corporate Office Properties Trust is a self-managed real estate investment trust operating primarily in submarkets within the Greater Washington, D.C., region. ...