Business Wire·Oct 30, 2025, 4:15 PM ET

COPT Defense Acquires 142,000 Square Foot Building in Chantilly, VA

COPT Defense Properties acquired Stonegate I, a 142,000 square foot Class A office building in Chantilly, VA, for $40.2 million.
The building is fully occupied by a top 20 U.S. Defense Contractor with 10 years remaining on its lease term.
This transaction marks the ninth location for this specific tenant within COPT's portfolio.
Stonegate I was constructed in 2000 & is located within a 1-mile radius of COPT's 1.5 million square foot Westfields portfolio, which is 94% leased.
CEO Stephen E. Budorick stated the acquisition exceeds development yield thresholds, is accretive to FFO per share, & enhances the relationship with the defense contractor.
The deal reinforces COPT's position as the dominant owner in the Westfields submarket, where the company now owns roughly one-third of the 4 million square feet of inventory.
Cushman and Wakefield identifies Westfields as the tightest submarket in Northern Virginia at 94% leased.
As of June 30, 2025, COPT's Defense/IT Portfolio consisted of 198 properties encompassing 22.6 million square feet & was 96.8% leased.