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First Potomac Realty Trust Announces Two Significant New Leases in Southern Virginia

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  Published in Business and Finance on Tuesday, August 16th 2011 at 4:11 GMT by Market Wire
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BETHESDA, Md.--([ BUSINESS WIRE ])--First Potomac Realty Trust (NYSE:FPO), a leading owner of office and industrial properties in the greater Washington, D.C., and southern Virginia regions, today announced two new lease transactions totaling more than 115,000 square feet at industrial buildings the firm owns in Chesapeake, VA.

"These two sizeable transactions greatly strengthen our industrial portfolio in the Chesapeake area and solidify First Potomaca™s reputation as a high-quality service provider that meets the requirements of industrial users"

Carrier Enterprises LLC signed a 63,012-square-foot lease at Crossways Commerce Center for a seven-year term. The property is now 88 percent leased. In addition, Serco Inc. signed a five-year lease for 54,054 square feet at Diamond Hill Distribution Center in Chesapeake, Virginia. With this transaction, Diamond Hill is now 90 percent leased.

aThese two sizeable transactions greatly strengthen our industrial portfolio in the Chesapeake area and solidify First Potomaca™s reputation as a high-quality service provider that meets the requirements of industrial users,a stated Tony Beck, Regional Vice President of First Potomac Realty Trust. aWe are pleased to welcome quality tenants like Carrier and Serco to our portfolio.a

Crossways Commerce Center consists of nine buildings totaling 1.09 million square feet on approximately 80 acres adjacent to Interstate 64.

Diamond Hill Distribution Center includes four industrial buildings totaling 712,500 square feet on 37 acres of land. The property is centrally located to the Norfolk, Portsmouth and Newport News International Terminals with access to Interstate 64. It offers 23-foot to 28-foot ceiling heights in addition to dock and drive-in loading.

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. As of June 30, 2011, the Company's portfolio totaled over 14 million square feet. Its portfolio consists of 39% business parks, 38% office and office parks, and 23% industrial properties. FPO shares are publicly traded on the New York Stock Exchange (NYSE:FPO). For more information, please visit [ www.first-potomac.com ].