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COPT Defense Executes 48,000 SF Lease with a Top 10 U.S. Defense Contractor at Franklin Center in Columbia Gateway

1. CDP secured a 10-year lease with a top U.S. defense contractor. 2. Columbia Gateway portfolio is now 92% leased, indicating strong demand.

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FAQ

Why Bullish?

The significant lease agreement improves CDP's occupancy rate, enhancing revenue stability. Past lease agreements have positively influenced REIT stock prices due to increased cash flows.

How important is it?

The lease agreement represents a significant revenue increase and showcases high demand, crucial for investor confidence in CDP.

Why Short Term?

The immediate positivity from this lease will likely influence CDP's stock performance in the upcoming quarters. Past trends show occupancy rate improvements lead to short-term stock price gains.

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COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) has executed a 10-year lease with a top 10 U.S. Defense Contractor for 48,100 square feet at 6841 Benjamin Franklin Drive (“Franklin Center”) in Columbia Gateway. With this transaction, Franklin Center is now 80% leased, with 41,000 square feet of remaining availability. Overall, the Company's 2.5 million square foot Columbia Gateway portfolio is now 92.0% leased, with only 200,000 square feet.

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