N🟁N

First Potomac Realty Trust Renews 130,000 Square Feet in Maryland

  //business-finance.news-articles.net/content/201 .. rust-renews-130-000-square-feet-in-maryland.html
  Published in Business and Finance on Monday, September 13th 2010 at 14:25 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

BETHESDA, Md.--([ BUSINESS WIRE ])--First Potomac Realty Trust (NYSE: FPO), a leading owner of office and industrial properties in the Greater Washington, D.C. region, announced that it has signed a renewal lease for approximately 130,000 square feet with Home Depot USA, Inc. (NYSE: HD), the world's largest home improvement specialty retailer, at Glenn Dale Business Center in Glenn Dale, Maryland. The renewal extends Home Depota™s commitment to the property into 2014.

"We have been extremely focused on reducing our rollover risk and increasing our occupancy and these transactions provide meaningful steps toward those goals. We hope to continue to build on this momentum."

First Potomac also executed a new ten-year, 21,350 square-foot lease with The Tile Shop, a leading do-it-yourself retailer, at its Snowden Center property in Columbia, Maryland. The Tile Shop is expected to open for business in the second quarter of 2011.

aWe are excited that Home Depot, a valued tenant since 1995, has decided to extend their lease commitment with us at Glenn Dale Business Center, and we look forward to forging a new long-term relationship with The Tile Shop at Snowden Center,a said Matt Wilson, First Potomac Realty Trusta™s Regional Vice President for the Maryland region. aWe have been extremely focused on reducing our rollover risk and increasing our occupancy and these transactions provide meaningful steps toward those goals. We hope to continue to build on this momentum.a

Glenn Dale Business Center is a single building totaling 315,191 square feet. The property is located in Suburban Maryland, minutes from the Capital Beltway and the Baltimore/Washington Parkway.

Snowden Business Center consists of five, single-story buildings totaling 144,684. The property is located in Columbia, Maryland, minutes from I-95, I-295 and Route 32.

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 industrial properties in the Greater Washington, D.C. region. The Company's portfolio totals approximately 12 million square feet. The Company's largest tenant is the U.S. Government, which along with government contractors, accounts for over 20% of the Company's revenue. For more information, please visit us at [ www.first-potomac.com ].

About The Tile Shop

Founded in 1984, The Tile Shop, based in Plymouth, Minnesota, is dedicated to providing consumers and tile professionals with an unparalleled selection of world-class product, focused on showcasing the extraordinary beauty and value found in ceramic, porcelain and natural stone tile. The company operates 49 stores in 17 states. For more information, please visit [ www.tileshop.com ].