[RP TownTalk] Article from bizjournals.com: M Square Research Park signs on 2 new tenants
Dwight Holmes
dwightrholmes at gmail.com
Fri Sep 12 22:36:13 UTC 2008
Cool - we're getting green in Riverdale Park!
*The Joint Global Change Research
Institute*<http://washington.bizjournals.com/washington/related_content.html?topic=The%20Joint%20Global%20Change%20Research%20Institute>will
take 12,000 square feet. The institute, which is a collaboration
between Battelle Pacific Northwest Division and the University of Maryland,
works on global climate change solutions.
In addition, Fraunhofer USA's Center for Experimental Software Engineering
will take 9,000 square feet. That entity is affiliated with the University
of Maryland and the Fraunhofer Institute for Software Engineering in
Germany. Fraunhofer USA performs applied research for federal and state
governments, multi-national corporations and small- and medium-sized
companies.
The leases represent Columbia, Md.-based COPT's third and fourth leases at
its M Square project, bringing its first two buildings to 77 percent
occupancy. "These leases represent continued strong activity in our pipeline
of construction and development projects," said Randall Griffin, president
and chief executive officer of COPT ((NYSE: OFC).
In a joint venture with the University of Maryland and Manekin, COPT has an
agreement to co-develop, lease and manage approximately 750,000 square feet
of new office space in eight buildings at M Square. COPT owns a 45 percent
interest in the joint venture.
The joint venture will be a multi-year phased development plan. The first
phase of the project includes three buildings totaling about 315,000 square
feet.
The 124-acre M Square Research Park site is owned by the University of
Maryland and has been designated as its official research park. The research
park is adjacent to the University of Maryland campus at the intersection of
Route 1 and Paint Branch Parkway.
Other tenants at the research park include the National Oceanic and
Atmospheric Administration and the University of Maryland Center for the
Advanced Study of Languages.
COPT is a specialty office real estate investment trust that focuses on
specialized tenant requirements for federal government and defense
information technology clients.
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