Columbia Property Trust Targets 14 Properties for Disposition

Atlanta, GA-based Columbia Property Trust, Inc. reported this week that it is targeting 14 assets for disposition during 2015.

In January of this year, Columbia Property Trust acquired the 116 Huntington Avenue Building in Boston, Mass for $152 million, and a portfolio of two assets, the 315 Park Avenue South Building in New York City and the 1881 Campus Commons Building in Reston, Virginia, for $436.0 million.

One of the assets it’s now trying to sell is the 1881 Campus Commons Building in Reston. It also appears the firm will look to exit the Chicago market.

In the Baltimore/Washington Corridor, the assets Columbia Property Trust has identified for disposition include:

1580 West Nursery Road in Baltimore, MD;

Acquired in September 2008, 1580 West Nursery Road is a Class-A office property consisting of two buildings, located in the Baltimore suburb of Linthicum, Maryland. The buildings serve as the corporate headquarters for the Electronics Systems Sector of Northrop Grumman, a leading global security company.

800 North Frederick in suburban Maryland;

Class-A office building in Gaithersburg, approximately 20 miles northwest of Washington, D.C.. IBM is one of the world’s largest information technologies services providers and is included on both the FORTUNE 500 and Global 500 lists.

1881 Campus Commons in suburban Washington D.C.;

1881 Campus Commons is a transit-oriented, Class-A office building located in Reston, Virginia, one of Washington D.C.’s largest submarkets. The recently renovated 5-story property features a state-of-the art fitness center and on-site café. SOS International and Siemens Government Services are both service and solution providers for the public and private sectors.

In the Chicago market, the assets include:

215 Diehl Road

Class-A office building in the Chicago suburb of Naperville, Illinois primarily occupied by ConAgra, an industry-leading, FORTUNE 500 food company.

263 Shuman Boulevard

Class-A office property in Naperville, Illinois, directly visible along the East-West Tollway. The property is fully leased to office supply retailer OfficeMax, which recently merged with Office Depot and is now a wholly owned subsidiary of Office Depot, Inc.

544 Lakeview

Three-story office building in Vernon Hills, Illinois, conveniently located near the Tri-State Tollway. Partially leased to multiple tenants, including Mercer (US), Inc., a wholly owned subsidiary of NYSE-listed Marsh & McLennon Companies.


The Class-A Acxiom property includes two adjacent buildings at 3333 Finley Road and 1501 Opus Place, located in the popular Chicago suburb of Downers Grove, Illinois. Acxiom is a global leader in data management (f/k/a Acxiom/May & Speh, Inc.).

Bannockburn Lake III

A Class-B+ office property located in the northern Chicago suburbs in the town of Bannockburn, Illinois. The office is nestled in a park-like setting within two miles of I-94 and I-294.

The Corridors III

Seven-story, Class-A office building located in Downers Grove, on the eastern side of Chicago’s East-West Corridor. The building’s largest tenant is PNC Bank.

Highland Landmark

Class-A office building located in the popular Chicago suburb of Downers Grove, Illinois. The building’s largest tenant is SAP Americas, a subsidiary of SAP AG, a market leader in enterprise application software.

In the Boston Market, the assets include:

550 King Street in Boston, Mass;

Class-A regional headquarters campus consisting of two buildings fully leased to IBM, one of the largest information technology services providers in the world.

Robbins Road in Boston, Mass;

One and Four Robbins Road is a Class-A property comprising a three-story office/lab and a two-story office building. The property is locted in the Boston suburb of Westford, Massachusetts. Alcatel-Lucent is a leading communications solutions provider.

In Northern New Jersey, the assets include:

170 Park Avenue and 180 Park Avenue in North New Jersey.

180 Park Ave is a Class-A office building primarily occupied by Novartis Pharmaceuticals, U.S. affiliate of Basel, Switzerland-based Novartis AG that researches, develops, and markets patent-protected prescription drugs for important health needs. Columbia also owns the adjacent building at 170 Park Avenue, purchased in 2004.

As of January 31, 2015, Columbia Property Trust, Inc. owned interests in 38 office properties and one hotel, which includes 55 operational buildings, comprising approximately 16.6 million square feet of commercial space located in 15 U.S. metropolitan statistical areas.

Of these office properties, 37 are wholly owned and one is owned through a consolidated subsidiary. As of December 31, 2014, the office properties were 93.3% leased.