EXHIBIT 13.2

Corporate Office Properties Trust

 Schedule III — Real Estate Depreciation and Amortization

December 31, 2002

(Dollars in thousands)

Initial Cost

Property

Location

Building Type

Encumbrances

Land

Building and Land Improvements

Costs Capitalized Subsequent to Acquisition

Gross Amounts Carried at Close of Period

Accumulated Depreciation

Year Built or Renovated

Date Acquired

Depreciation Life

751, 753 760, 785 Jolly Road

Blue Bell, PA

Office

$

65,218

$

23,371

$

88,451

$

99

$

111,921

$

(11,538

)

1966/1996

10/14/1997

40 Years

15000 Conference Center Drive

Chantilly, VA

Office

33,741

9,458

49,808

711

59,977

(1,971

)

1989

11/30/2001

40 Years

2730 Hercules Road

Annapolis Junction, MD

Office

23,616

8,737

31,612

1

40,350

(3,367

)

1990

9/28/1998

40 Years

15049 Conference Center Drive

Chantilly, VA

Office

15,907

5,519

22,079

—

27,598

(313

)

1997

8/14/2002

40 Years

11800 Tech Road

Silver Spring, MD

Office

19,600

5,437

21,747

3

27,187

(337

)

1969/1989

8/1/2002

40 Years

2711 Technology Drive

Annapolis Junction, MD

Office

19,146

3,055

21,631

—

24,686

(450

)

2002

11/13/2000

40 Years

695 Route 46

Fairfield, NJ

Office

10,554

3,734

14,936

3,325

21,995

(2,660

)

1990

5/28/1998

40 Years

6731 Columbia Gateway Drive

Columbia, MD

Office

11,570

3,948

17,174

10

21,132

(214

)

2002

3/29/2000

40 Years

431 Ridge Road

Dayton, NJ

Office

11,977

2,782

11,128

6,936

20,846

(2,480

)

1958/1998

10/14/1997

40 Years

7200 Riverwood Drive

Columbia, MD

Office

10,013

4,089

16,356

70

20,515

(1,724

)

1986

10/13/1998

40 Years

15059 Conference Center Drive

Chantilly, VA

Office

16,000

3,965

15,862

228

20,055

(238

)

2000

8/14/2002

40 Years

9690 Deereco Road

Timonium, MD

Office

9,525

3,431

13,723

1,329

18,483

(1,392

)

1988

12/21/1999

40 Years

6009 — 6011 Oxon Hill Road

Oxon Hill, MD

Office

10,824

3,435

13,738

1,154

18,327

(1,892

)

1990

9/28/1998

40 Years

2701 Technology Drive

Annapolis Junction, MD

Office

14,581

3,031

15,119

5

18,155

(560

)

2001

5/26/2000

40 Years

6950 Columbia Gateway Drive

Columbia, MD

Office

10,175

3,596

14,269

47

17,912

(1,496

)

1998

10/21/1998

40 Years

2721 Technology Drive

Annapolis Junction, MD

Office

13,574

2,947

14,652

6

17,605

(804

)

2000

10/21/1999

40 Years

7000 Columbia Gateway Drive

Columbia, MD

Office

12,000

3,239

12,957

—

16,196

(260

)

1999

5/31/2002

40 Years

132 National Business Parkway

Annapolis Junction, MD

Office

11,834

2,917

12,427

21

15,365

(869

)

2000

5/28/1999

40 Years

429 Ridge Road

Dayton, NJ

Office

12,624

2,932

11,729

356

15,017

(1,593

)

1966/1996

10/14/1997

40 Years

1306 Concourse Drive

Linthicum, MD

Office

10,025

2,796

11,186

429

14,411

(998

)

1990

11/18/1999

40 Years

1304 Concourse Drive

Linthicum, MD

Office

11,775

1,999

12,136

5

14,140

(182

)

2002

11/18/1999

40 Years

6750 Alexander Bell Drive

Columbia, MD

Office

9,004

1,263

12,459

21

13,743

(808

)

2000

12/31/1998

40 Years

6940 Columbia Gateway Drive

Columbia, MD

Office

9,343

3,545

9,914

164

13,623

(841

)

1999

11/13/1998

40 Years

7067 Columbia Gateway Drive

Columbia, MD

Office

9,269

1,829

11,677

2

13,508

(302

)

2001

8/30/2001

40 Years

375 W. Padonia Road

Timonium, MD

Office

6,549

2,604

10,415

148

13,167

(792

)

1986

12/21/1999

40 Years

133 National Business Parkway

Annapolis Junction, MD

Office

9,937

2,517

10,068

492

13,077

(1,248

)

1997

9/28/1998

40 Years

710 Route 46

Fairfield, NJ

Office

5,666

2,154

8,615

1,545

12,314

(1,363

)

1985

5/28/1998

40 Years

135 National Business Parkway

Annapolis Junction, MD

Office

7,742

2,484

9,750

67

12,301

(1,017

)

1998

12/30/1998

40 Years

141 National Business Parkway

Annapolis Junction, MD

Office

7,418

2,398

9,590

279

12,267

(1,112

)

1990

9/28/1998

40 Years

870 — 880 Elkridge Landing Road

Linthicum, MD

Office

—

2,298

9,168

729

12,195

(360

)

1981

8/3/2001

40 Years

1615 and 1629 Thames Street

Baltimore, MD

Office

6,711

2,080

8,322

1,142

11,544

(1,195

)

1989

9/28/1998

40 Years

2605 Interstate Drive

Harrisburg, PA

Office

—

2,089

8,355

862

11,306

(1,237

)

1990

10/14/1997

40 Years

134 National Business Parkway

Annapolis Junction, MD

Office

7,783

3,684

7,530

23

11,237

(703

)

1999

11/13/1998

40 Years

920 Elkridge Landing Road

Linthicum, MD

Office

8,917

2,200

8,778

75

11,053

(328

)

1982

7/2/2001

40 Years

1302 Concourse Drive

Linthicum, MD

Office

7,451

2,078

8,313

492

10,883

(849

)

1996

11/18/1999

40 Years

900 Elkridge Landing Road

Linthicum, MD

Office

7,168

1,993

7,972

402

10,367

(1,066

)

1982

4/30/1998

40 Years

131 National Business Parkway

Annapolis Junction, MD

Office

5,989

1,906

7,623

802

10,331

(1,067

)

1990

9/28/1998

40 Years

2601 Market Place

Harrisburg, PA

Office

5,951

1,928

7,713

381

10,022

(1,072

)

1989

10/14/1997

40 Years

68 Culver Road

Dayton, NJ

Office

8,314

861

8,794

4

9,659

(509

)

2000

7/9/1999

40 Years

999 Corporate Boulevard

Linthicum, MD

Office

7,741

1,187

8,334

6

9,527

(535

)

2000

8/1/1999

40 Years

6700 Alexander Bell Drive

Columbia, MD

Office

5,176

1,755

7,019

531

9,305

(303

)

1988

5/14/2001

40 Years

7467 Ridge Road

Hanover, MD

Office

5,894

1,629

6,517

553

8,699

(847

)

1990

4/28/1999

40 Years

1199 Winterson Road

Linthicum, MD

Office

5,750

1,599

6,395

411

8,405

(775

)

1988

4/30/1998

40 Years

7240 Parkway Drive

Hanover, MD

Office

4,330

1,496

5,985

686

8,167

(483

)

1985

4/18/2000

40 Years

6740 Alexander Bell Drive

Columbia, MD

Office

4,672

1,424

5,696

984

8,104

(939

)

1992

12/31/1998

40 Years

14502 Greenview Drive

Laurel, MD

Office

4,900

1,482

5,899

516

7,897

(844

)

1988

9/28/1998

40 Years

849 International Drive

Linthicum, MD

Office

4,877

1,356

5,426

916

7,698

(735

)

1988

2/23/1999

40 Years

14504 Greenview Drive

Laurel, MD

Office

4,628

1,429

5,716

288

7,433

(737

)

1985

9/28/1998

40 Years

1099 Winterson Road

Linthicum, MD

Office

4,759

1,323

5,293

781

7,397

(816

)

1988

4/30/1998

40 Years

1190 Winterson Road

Linthicum, MD

Office

4,802

1,335

5,340

697

7,372

(739

)

1987

4/30/1998

40 Years

9140 Route 108

Columbia, MD

Office

6,425

1,637

5,500

109

7,246

(309

)

1974/1985

12/14/2000

40 Years

6716 Alexander Bell Drive

Columbia, MD

Office

4,075

1,242

4,969

992

7,203

(880

)

1990

12/31/1998

40 Years

911 Elkridge Landing Road

Linthicum, MD

Office

4,371

1,215

4,861

820

6,896

(836

)

1985

4/30/1998

40 Years

104 Interchange Plaza

Cranbury, NJ

Office

4,539

1,329

5,315

132

6,776

(570

)

1990

10/30/1998

40 Years

6345 Flank Drive

Harrisburg, PA

Office

4,359

1,324

5,268

134

6,726

(479

)

1989

12/3/1999

40 Years

101 Interchange Plaza

Cranbury, NJ

Office

3,980

1,160

4,666

673

6,499

(694

)

1985

10/30/1998

40 Years

4301 Route 1

Monmouth Junction, NJ

Office

4,276

1,208

4,832

424

6,464

(715

)

1986

6/24/1999

40 Years

1201 Winterson Road

Linthicum, MD

Office

4,634

1,288

5,154

21

6,463

(605

)

1985

4/30/1998

40 Years

6340 Flank Drive

Harrisburg, PA

Office

4,196

1,274

5,071

50

6,395

(396

)

1988

12/3/1999

40 Years

6711 Columbia Gateway Drive

Columbia, MD

Office

—

3,970

2,405

—

6,375

—

(1

)

1/31/2002

40 Years

891 Elkridge Landing Road

Linthicum, MD

Office

4,416

1,233

4,926

142

6,301

(191

)

1984

7/2/2001

40 Years

Initial Cost

Property

Location

Building Type

Encumbrances

Land

Building and Land Improvements

Costs Capitalized Subsequent to Acquisition

Gross Amounts Carried at Close of Period

Accumulated Depreciation

Year Built or Renovated

Date Acquired

Depreciation Life

901 Elkridge Landing Road

Linthicum, MD

Office

4,103

1,148

4,574

381

6,103

(211

)

1984

7/2/2001

40 Years

938 Elkridge Landing Road

Linthicum, MD

Office

4,950

1,195

4,775

48

6,018

(182

)

1984

7/2/2001

40 Years

5035 Ritter Road

Harrisburg, PA

Office

3,676

1,116

4,442

16

5,574

(345

)

1988

12/3/1999

40 Years

6400 Flank Drive

Harrisburg, PA

Office

3,600

1,093

4,350

25

5,468

(339

)

1992

12/3/1999

40 Years

881 Elkridge Landing Road

Linthicum, MD

Office

3,720

1,034

4,137

290

5,461

(510

)

1986

4/30/1998

40 Years

7065 Columbia Gateway Drive

Columbia, MD

Office

3,711

1,081

4,326

1

5,408

(144

)

2000

8/30/2001

40 Years

939 Elkridge Landing Road

Linthicum, MD

Office

3,377

939

3,756

688

5,383

(584

)

1983

4/30/1998

40 Years

6724 Alexander Bell Drive

Columbia, MD

Office

3,118

449

4,836

2

5,287

(74

)

2002

5/14/2001

40 Years

900 International Drive

Linthicum, MD

Office

3,643

1,013

4,053

219

5,285

(491

)

1986

4/30/1998

40 Years

921 Elkridge Landing Road

Linthicum, MD

Office

3,755

1,044

4,176

50

5,270

(491

)

1983

4/30/1998

40 Years

7063 Columbia Gateway Drive

Columbia, MD

Office

3,483

1,036

4,144

1

5,181

(138

)

2000

8/30/2001

40 Years

930 International Drive

Linthicum, MD

Office

3,526

981

3,922

264

5,167

(475

)

1986

4/30/1998

40 Years

7321 Parkway Drive

Hanover, MD

Office

3,401

940

3,760

365

5,065

(463

)

1984

4/16/1999

40 Years

940 Elkridge Landing Road

Linthicum, MD

Office

3,758

986

3,924

66

4,976

(150

)

1984

7/2/2001

40 Years

7320 Parkway Drive

Hanover, MD

Office

—

991

3,966

—

4,957

(110

)

1983

4/4/2002

40 Years

7318 Parkway Drive

Hanover, MD

Office

3,517

972

3,888

91

4,951

(376

)

1984

4/16/1999

40 Years

6760 Alexander Bell Drive

Columbia, MD

Office

2,920

890

3,561

335

4,786

(390

)

1991

12/31/1998

40 Years

6360 Flank Drive

Harrisburg, PA

Office

2,999

911

3,625

238

4,774

(356

)

1988

12/3/1999

40 Years

1340 Ashton Road

Hanover, MD

Office

3,274

905

3,620

1

4,526

(332

)

1989

4/28/1999

40 Years

9140 Guilford Road

Columbia, MD

Office

3,173

878

3,513

116

4,507

(92

)

1983

4/4/2002

40 Years

6708 Alexander Bell Drive

Columbia, MD

Office

2,646

897

3,588

3

4,488

(142

)

1988

5/14/2001

40 Years

7061 Columbia Gateway Drive

Columbia, MD

Office

2,783

827

3,310

1

4,138

(110

)

2000

8/30/2001

40 Years

6385 Flank Drive

Harrisburg, PA

Office

2,502

811

3,242

46

4,099

(436

)

1995

10/14/1997

40 Years

2720 Technology Drive

Annapolis Junction, MD

Office

3,000

3,757

306

—

4,063

—

(1

)

(3

)

40 Years

800 International Drive

Linthicum, MD

Office

2,786

775

3,099

117

3,991

(373

)

1988

4/30/1998

40 Years

9160 Guilford Road

Columbia, MD

Office

2,788

772

3,088

27

3,887

(80

)

1984

4/4/2002

40 Years

1334 Ashton Road

Hanover, MD

Office

2,664

736

2,946

101

3,783

(331

)

1989

4/28/1999

40 Years

47 Commerce Drive

Cranbury, NJ

Office

2,584

756

3,025

1

3,782

(315

)

1992/1998

10/30/1998

40 Years

Stonecroft Land

Chantilly, VA

Office

—

3,620

23

—

3,643

—

(2

)

7/18/2002

N/A

437 Ridge Road

Dayton, NJ

Office

3,085

717

2,866

28

3,611

(381

)

1962/1996

10/14/1997

40 Years

114 National Business Parkway

Annapolis Junction, MD

Retail

—

364

3,052

3

3,419

(61

)

2002

6/30/2000

40 Years

6405 Flank Drive

Harrisburg, PA

Office

2,159

656

2,610

6

3,272

(202

)

1991

12/3/1999

40 Years

5070 Ritter Road— Bldg A

Harrisburg, PA

Office

1,920

583

2,320

211

3,114

(258

)

1989

12/3/1999

40 Years

6380 Flank Drive

Harrisburg, PA

Office

1,941

589

2,346

74

3,009

(201

)

1991

12/3/1999

40 Years

1331 Ashton Road

Hanover, MD

Office

2,122

587

2,347

—

2,934

(215

)

1989

4/28/1999

40 Years

5070 Ritter Road— Bldg B

Harrisburg, PA

Office

1,680

510

2,030

44

2,584

(176

)

1989

12/3/1999

40 Years

7 Centre Drive

Cranbury, NJ

Office

1,606

470

1,881

122

2,473

(277

)

1989

10/30/1998

40 Years

2 Centre Drive

Cranbury, NJ

Office

1,641

480

1,922

—

2,402

(200

)

1989

10/30/1998

40 Years

95 Shannon Road

Harrisburg, PA

Office

1,459

472

1,891

3

2,366

(162

)

1995

8/12/1999

40 Years

75 Shannon Road

Harrisburg, PA

Office

1,388

450

1,799

107

2,356

(181

)

1995

8/12/1999

40 Years

8 Centre Drive

Cranbury, NJ

Office

1,327

388

1,554

256

2,198

(294

)

1986

10/30/1998

40 Years

1350 Dorsey Road

Hanover, MD

Office

1,423

393

1,573

218

2,184

(194

)

1989

4/28/1999

40 Years

1344 Ashton Road

Hanover, MD

Office

1,285

355

1,421

124

1,900

(146

)

1989

4/28/1999

40 Years

9150 Guilford Road

Columbia, MD

Office

1,348

373

1,492

29

1,894

(39

)

1984

4/4/2002

40 Years

6375 Flank Drive

Harrisburg, PA

Office

1,119