Apr 01, 2014, 04:30 ET
BETHESDA, Md., April 1, 2014 /PRNewswire/ -- First Potomac Realty Trust (NYSE:FPO), a leading owner of office and business park properties in the greater Washington, D.C. region, today announced that the U.S. Department of the Interior Bureau of Safety and Environmental Enforcement signed a 10-year lease for 82,116 square feet at Atlantic Corporate Park in Sterling, Virginia.
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"We are very pleased to welcome the Department of the Interior to Atlantic Corporate Park in Northern Virginia," stated Douglas J. Donatelli, Chairman and CEO of First Potomac Realty Trust, "We believe the GSA chose to relocate to our property from an older building because it offers high quality, energy efficient office space in the heart of Loudoun County's best amenities. This is consistent with the flight to quality that we are seeing from tenants across the region."
First Potomac acquired the newly constructed property in December 2010 for $22.5 million. The property consists of two, four-story Class A LEED Gold Certified office buildings, totaling approximately 220,000 square feet. The amenity-rich buildings feature an on-site fitness center, conference rooms and green space, and are located within walking distance of restaurants, lodging and shopping. This lease brings the property to approximately 82% leased.
About First Potomac Realty Trust
First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping office and business park properties in the greater Washington, D.C. region. As of December 31, 2013, the Company's consolidated portfolio totaled 9.1 million square feet. Based on annualized cash basis rent, the Company's portfolio consists of 51% office properties and 49% business park and industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Over one million square feet of First Potomac property is LEED Certified, with the potential for another 700,000 square feet in future development projects. Approximately half of the portfolio's multi-story office square footage is LEED or Energy Star Certified. FPO common shares (NYSE:FPO) and preferred shares (NYSE:FPO-PA) are publicly traded on the New York Stock Exchange.
SOURCE First Potomac Realty Trust
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