COPT Defense Executes 132,000 Square Foot Build-to-Suit Lease in San Antonio, Bringing New Investments in 2025 to $277 Million

Core Viewpoint - COPT Defense Properties has signed a build-to-suit lease with a Fortune 100 Company for a specialized facility in San Antonio, Texas, indicating strong demand for high-security properties in the defense sector [1] Group 1: Lease Agreement - The lease agreement was executed in December 2025 for a 132,000 square foot facility [1] - Construction is expected to begin in the third quarter of 2026 [1] - Rent is anticipated to commence in the fourth quarter of 2027 [1] Group 2: Financial Commitment - The total capital commitment for the development project is projected to be $88 million [1] - This investment is aimed at densifying the company's portfolio in the defense sector [1]