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Corporate Office Properties Trust

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.
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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 TARA REILLY | September 28, 2004
tarar@herald-mail.com CASCADE - The former Fort Ritchie U.S. Army base would be a place where Cascade-area residents could picnic, play sports and hold town meetings. It also would be a magnet for major companies that would create high-paying jobs for possibly thousands of people, with some of those employees living on the property. That's some of what the Columbia, Md.,-based developer, Corporate Office Properties Trust (COPT) envision for the 638-acre base over the next 10 to 15 years.
NEWS
By JULIE E. GREENE | julieg@herald-mail.com | June 9, 2011
The developer of Fort Ritchie will lay off six employees and stop contributing financially to the former Army post's community center at the end of the year, company officials said Thursday. With litigation still pending concerning the environmental impact of development plans for the site, Corporate Office Properties Trust officials have decided to cut more than half of its local workforce there, spokeswoman Stephanie Krewson said. The Army base in Washington County was closed in 1998 and has been transferred to the Columbia, Md.-based company, which plans a development that includes 1.7 million square feet of office space and 673 homes and apartments.
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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