COPT Defense Acquires Land for Data Center Shell Development near Des Moines, IA and an 80,000 Square Foot Building in San Antonio, TX
COPT Defense Properties Common Shares of Beneficial Interest (CDP)
Company Research
Source: Business Wire
COLUMBIA, Md.--(BUSINESS WIRE)--COPT Defense Properties (NYSE: CDP) (“COPT Defense” or the “Company”) acquired a 365-acre land parcel near Des Moines, Iowa in late September for $32 million to expand its data center shell program. The existing zoning on the land allows for data center development and initial plans indicate that the site can accommodate approximately 3.3 million square feet of development, supported by an estimated 1 gigawatt of power capacity.Also, late in the third quarter, the Company acquired an 80,000 square foot building at 3900 Rogers Road in San Antonio, Texas for $17 million. The building was vacant upon acquisition, and the Company subsequently executed two leases with the U.S. Government to occupy the entire building, which it expects to commence in the second quarter of 2025. The Class A office building was constructed in 2005, and is located 5 miles northwest of the Company’s approximately 1.0 million square foot campus, which is 100% leased and occupi
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News
- COPT Defense Properties (NYSE: CDP) had its price target raised by analysts at Evercore ISI from $33.00 to $36.00. They now have an "outperform" rating on the stock.MarketBeat
- COPT Defense Reports Strong Third Quarter 2024 ResultsBusiness Wire
- COPT Defense Provides Conference Call Details to Discuss 3Q 2024 ResultsBusiness Wire
- COPT Defense Properties (NYSE: CDP) had its price target lowered by analysts at Wells Fargo & Company from $33.00 to $32.00. They now have an "overweight" rating on the stock.MarketBeat
- COPT Defense Properties (NYSE: CDP) had its price target raised by analysts at JPMorgan Chase & Co. from $26.00 to $31.00. They now have a "neutral" rating on the stock.MarketBeat