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FREDERICK, MD-Corporate Office Properties Trust acquired the 117,800-sf structure at 110 Thomas Johnson Dr from Farmers & Mechanics Bank in a $17-million sale-leaseback deal. F&M will lease 58% of the building from the new ownership under a 10-year agreement.

Further details of the lease have not been disclosed. Located near Rte. 15 and Rte. 26, 110 Thomas Johnson sits in the I-270 Corridor and marks Columbia, MD-based COPT’s first purchase in the submarket.

The building occupies a 21.5-acre parcel that can accommodate the development of an additional 80,000 sf of office space. “This office building is located near Fort Detrick which is expected to see increased growth as a result of the recent BRAC announcements,” COPT president and CEO Randall M. Griffin says. “The Frederick market continues to grow as companies move further north from Washington, DC.”

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