ATLANTA—Columbia Property Trust, Inc. reportsit has sold a total of three office buildings in Orlando, FL,Columbia, MD, and Florham Park, NJ that will reap the office REITnet proceeds of $88.5 million.


The office buildings sold by Columbia Property Trust include the247,624-square-foot Class-A office property at 7031 ColumbiaGateway Drive in Columbia, MD. The property was sold to buildingtenant MICROS Systems, Inc.


The firm also sold the 128,296-square-foot Class-A SunTrustBuilding at 200 South Orange in Orlando, FL, to SusquehannaHoldings, Ltd., and the previously vacant240,274-square-foot Class-B office property at 160 Park Ave. inFlorham Park, NJ. The office building, formerly known as 180 ParkAve. #103, was sold to new user Automatic SwitchCompany.


Nelson Mills, president and CEO of ColumbiaProperty Trust, says of the property dispositions, “Consistent withour previous asset recycling activity, these transactions continueto improve the overall performance and quality of our portfolio byreducing our exposure to single-tenant and suburban assets andtightening our market concentration, from 16 to 15 totalmarkets.”

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.