COPT Defense Acquires 142,000 Square Foot Building in Chantilly, VA
COPT Defense Properties Common Shares of Beneficial Interest (CDP)
Company Research
Source: Business Wire
COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) announced the acquisition of Stonegate I, a 142,000 square foot Class A office building at 15050 Conference Center Drive in Chantilly, VA for a gross purchase price of $40.2 million. The Class A office building is fully occupied by a top 20 U.S. Defense Contractor with 10 years of lease term remaining, making this their ninth location in the Company’s portfolio. Stonegate I was constructed in 2000 and is within a 1-mile radius of the Company’s 1.5 million square foot Westfields office portfolio, which is 94% leased.Stephen E. Budorick, COPT Defense’s President & Chief Executive Officer, commented, “This acquisition exceeds our development yield threshold, is accretive to FFO per share, and enhances our relationship with a top 20 U.S. defense contractor. It also reinforces our position as the dominant owner in the highly-leased and supply-constrained Westfields submarket, as we now
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News
- COPT Defense Properties (NYSE:CDP) had its price target raised by analysts at Wells Fargo & Company from $30.00 to $33.00. They now have an "overweight" rating on the stock.MarketBeat
- COPT Defense Reports Third Quarter 2025 ResultsBusiness Wire
- COPT Defense Properties (NYSE:CDP) was upgraded by analysts at Jefferies Financial Group Inc. to a "strong-buy" rating.MarketBeat
- COPT Defense Properties (NYSE:CDP) had its "buy" rating reaffirmed by analysts at Jefferies Financial Group Inc..MarketBeat
- COPT Defense Properties (NYSE:CDP) was given a new $33.00 price target on by analysts at New Street Research.MarketBeat