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Corporate Office Properties Trust

NEWS
by TIM ROWLAND | July 5, 2004
In the end, the once-proud Fort Ritchie Army base in Cascade became to Washington County what an old washing machine is to the proprietor of a yard sale: You know it has some value, but when mid-afternoon rolls around, you're happy if you can just get someone to haul it away for free. Ritchie, which was tentatively sold this week for what some are calling peanuts, had become such a public-relations headache that it was no longer worth the bother. And if this deal works out, everyone will be breathing a sigh of relief.
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NEWS
by BOB MAGINNIS | September 22, 2004
"Communities need a heart. Fort Ritchie, when it's all said and done, will be that. " So said Randall Griffin, president and CEO of Corporate Office Properties Trust, the Columbia, Md.-based real estate investment trust that hopes to turn the old Army base into a new mountaintop community. Griffin, who visited The Herald-Mail on Monday, was pleasant, but not shy about what he believes COPT will do with the Cascade property. Eventually, he said, his firm will be one of the county's top three taxpayers.
NEWS
By HEATHER KEELS | heather.keels@herald-mail.com | April 7, 2011
The company redeveloping the former Fort Ritchie U.S. Army base has notified its investors that it does not expect to recover its $28 million investment in the property and has written down the value to zero. Corporate Office Properties Trust made that decision based on a re-evaluation of the property's development prospects following the Army's February disclosure that tactical herbicides, including Agent Orange, had been tested at Fort Ritchie, according to a U.S. Securities and Exchange Commission filing and a statement issued by the company.
NEWS
July 11, 2004
To the editor: PenMar Development Corporation, the Local Redevelopment Authority (LRA) for Fort Ritchie, is reportedly poised to sign an exclusive negotiation agreement with a private sector "master developer" in a second attempt to outsource major redevelopment tasks at the closed base in Cascade. A previous agreement with Lerner Enterprises of Bethesda, Md., expired last December. This time it appears PenMar is hanging its hopes on Corporate Office Properties Trust (COPT)
NEWS
By JULIE E. GREENE | julieg@herald-mail.com | February 20, 2011
Agent Orange was among the herbicides studied at the former Fort Ritchie Army base in 1963, according to U.S. Department of Defense and U.S. Department of Veterans Affairs documents found online. The owner of the former Army base property in northeast Washington County, Corporate Office Properties Trust (COPT), found out last week that “testing and the use of tactical defoliants/herbicides” were conducted at Fort Ritchie and issued a news release Friday noting that the trust now expects further delays in litigation relating to a 2005 lawsuit.
NEWS
October 24, 2006
What happened: A Department of Defense Base Realignment and Closure recommendation in 1995 led to the closing of the Fort Ritchie U.S. Army base three years later. The ensuing process to redevelop the base involved lawsuits and environmental cleanups. What's new: PenMar Development Corp., created in the late 1990s to redevelop the base, transferred ownership to Corporate Office Properties Trust of Columbia, Md., in a ceremony Monday. What's next: Corporate Office Properties Trust is looking to start improvements over the winter that eventually will support homes, offices and secure military space.
NEWS
By ANDREW SCHOTZ | September 25, 2007
PenMar Development Corp. will stay active in Cascade for several years as Corporate Office Properties Trust redevelops Fort Ritchie, the former U.S. Army base. PenMar, a state-created nonprofit organization overseeing the remaking of the base, is required to be there at least seven more years, Vice Chairman Phil Ulzheimer said Monday. Corporate Office Properties Trust (COPT), a real estate investment company, is splitting the estimated $4.4 million cost of refurbishing the community center at the former base, according to PenMar's executive director, Richard Rook.
NEWS
by TARA REILLY | September 4, 2004
Citizens for the Protection of Washington County have asked two U.S. senators to review the sale agreement for the former Fort Ritchie U.S. Army base. In an Aug. 27 letter to U.S. Sens. Barbara Mikulski and Paul Sarbanes, both D-Md., the group's president, Jim Laird, questioned the selling price of the property and claimed an objective appraisal of the former base was not done. The PenMar Development Corp. voted to sell the 638-acre property on July 26 to Corporate Office Properties Trust (COPT)
NEWS
October 16, 2004
PenMar board to hold special meeting CASCADE - The PenMar Development Corp.'s board of directors will hold a special meeting on Oct. 25 to review a development plan for the former Fort Ritchie U.S. Army base. The meeting will be at 11:30 a.m. at the former base at 11 Lakeside Drive. The PenMar board will discuss the development plan submitted by Corporate Office Properties Trust, a Columbia, Md., developer that has agreed to buy the former base. Trick or treat date changed in Hancock HANCOCK - Trick or treat in Hancock has been changed from Oct. 28 to Oct. 29, town clerk Lisa Fleegle said in a written statement.
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