In general, many firms are positioning themselves now--eitherthrough new hires or a financial war chest saved for theoccasion--to buy assets now that pricing is coming off of its 2006highs. Randall Griffin, president and CEO of COPT alluded to thesepotential opportunities in a prepared statement regarding Norjen'sarrival. "John's extensive commercial real estate experience andknowledge will prove most valuable as new opportunities evolve forCOPT as a result of the turbulent economic environment," hesays.

For the most part, the company has been working to shore up itstenant base this year, inking deals in both the privatesector--such as the 219,000 sf sublease withMerck Inc. on the Unisys Campus in Blue Bell, PA--and its strongpublic sector base. An example of this would be the 123,000-sflease inked at MSquare Research Park in College Park, reportedly by the USmilitary's Intelligence Advanced Research Projects Activity, orIARPA. A 20-year industry veteran, Norjen has worked for Jones LangLaSalle, CB Richard Ellis and Eastdil Secured.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.