Columbia Property Trust Inc.'s board of directors authorized a buyback program for up to $200 million worth of the company's common stock.

The repurchases can occur at any time for a two-year period ending Sept. 4, 2019. Columbia's existing share buyback program is set to mature Sept. 4.

The shares may be acquired from time to time on the open market, in privately negotiated deals, or otherwise, subject to market prices and other conditions.