COPT Defense Executes 236,000 Square Foot Build-to-Suit Lease in its Maryland Portfolio
COLUMBIA, Md.–(BUSINESS WIRE)–
COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) executed a build-to-suit lease in January 2026 with a Defense/IT tenant in its Maryland portfolio. The Company’s anticipated capital commitment to this 236,000 square foot facility is $146 million, with rent commencement expected in the third quarter of 2028.
“We continue to see strong demand for build-to-suit development in our Defense/IT Portfolio, as demonstrated by the $277 million of capital commitments to new investments achieved in 2025. This build-to-suit lease is a continuation of that demand and represents a very strong start to the year,” said Stephen E. Budorick, COPT Defense’s President & CEO.
About COPT Defense
COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (“USG”) defense installations and missions (referred to as its Defense/IT Portfolio). The Company’s tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements. As of September 30, 2025, the Company’s Defense/IT Portfolio of 198 properties, including 24 owned through unconsolidated joint ventures, encompassed 22.6 million square feet and was 97.0% leased.
Forward-Looking Information
This press release may contain “forward-looking” statements, as defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, that are based on the Company’s current expectations, estimates and projections about future events and financial trends affecting the Company. Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “could,” “believe,” “anticipate,” “expect,” “estimate,” “plan” or other comparable terminology. Forward-looking statements are inherently subject to risks and uncertainties, many of which the Company cannot predict with accuracy and some of which the Company might not even anticipate. Although the Company believes that the expectations, estimates and projections reflected in such forward-looking statements are based on reasonable assumptions at the time made, the Company can give no assurance that these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements and the Company undertakes no obligation to update or supplement any forward-looking statements.
The areas of risk that may affect these expectations, estimates and projections include, but are not limited to, those risks described in Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260114636218/en/
IR Contacts:
Venkat Kommineni, CFA
443.285.5587
[email protected]
Michelle Layne
443.285.5452
[email protected]
KEYWORDS: District of Columbia Maryland United States North America
INDUSTRY KEYWORDS: Defense Other Construction & Property Commercial Building & Real Estate Construction & Property REIT Other Defense Contracts
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