Corporate Office Properties Trust Acquires 233,000 Square Foot Data Center

Corporate Office Properties Trust OFC announced today the acquisition of a 233,000 square foot data center known as Power Loft @ Innovation in Manassas, Virginia and the acquisition of the assets of Power Loft LLC, relating to the data center, for approximately $115 million. Prior to the acquisition, Power Loft LLC, founded by James F. Coakley, was the operating company providing development management, property management and leasing services to the data center. Additional development costs are estimated at $166 million.