Internet firm adds to space in Howard

Sun Microsystems leases nearly half new COPT building

Commercial real estate

January 12, 2000|By Mara H. Gottfried | Mara H. Gottfried,CONTRIBUTING WRITER

Philadelphia-based Corporate Office Properties Trust said yesterday that it has signed Sun Microsystems Inc. to a lease for nearly half of a four-story, 80,000-square-foot office building it is constructing in Columbia.

Work began late last month on the Gateway Business Park building and is expected to be completed in the fall.

Sun, based in Palo Alto, Calif., is a provider of hardware, software and services that power the Internet.

Sun has a Columbia office at 6716 Alexander Bell Drive, which is also owned by COPT. The new offices will house sales and service personnel.

Sun officials did not immediately return telephone calls yesterday and it was not clear whether the company will hire more employees.

Randall M. Griffin, COPT's president and chief operating officer, declined to disclose the value or the term of the lease, but indicated that it was at "market rate" and said it would be for at least seven years.

Sun will lease 35,018 square feet of the building at 6750 Alexander Bell Drive.

The building will have a brick and glass exterior, nine-foot ceilings, loading docks and a parking garage.

COPT, a real estate investment trust, owns six buildings in Gateway Business Park.

"What is typical for us is that we will acquire a building and with it tenant relationships," Griffin said. "It's a pretty dynamic economy we're seeing right now."

Griffin said the other portion of the 6750 Alexander Bell Drive building is on the market now.

"We've had some companies interested in the building," Griffin said. "They are companies that are looking to expand into the region, as well as companies already in the region that need to expand."

Last week, COPT said it had acquired two Timonium office buildings and a mixed-use property in Fells Point for $41 million.

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