COPT joins small-scale leasing market for startups seeking space

At this week’s CyberMaryland, property manager COPT is set to unveil its new COPTWorks program, aimed at leasing small office spaces on a month-to-month basis to area startups, the Baltimore Business Journal reports.
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COPT’s move follows that of Kinglet, which was founded by two former real estate developers and lets landlords market desk space for lease that would otherwise go empty.
From the BBJ report:

Leasing office space to small businesses is not a traditional approach for COPT (NYSE: OFC), which is mostly known for developing buildings it leases to the federal government and government contractors.
But the Columbia-based developer has enjoyed significant growth in recent years thanks to the influx of cyber security contractors flocking to Fort Meade in Anne Arundel County, where U.S. Cyber Command is located. Many of those contractors started off as small startups, said COPT Chief Operating Officer Stephen Budorick, so the company started exploring ways to build relationships with firms that could grow bigger over the long term.

Unlike Kinglet, COPT will lease full offices ranging in size from 100 to 2,500 square feet in properties from Columbia and Linthicum to Aberdeen and St. Mary’s County, according to the BBJ piece.
Currently, space is available at one property in Aberdeen, with others set to come online next year, according to the program’s website. Incidentally, to get space in the Aberdeen location, prospective tenants must use Kinglet.