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Real Estate Investment Trust Potomac Realty Trust
BETHESDA, Md.-First Potomac Realty Trust , a regional leader in the ownership, management, development and redevelopment of office parks, business parks and industrial properties, announced that it has signed two new leases totaling more than 32,000 square feet at the Company’s Northridge Business Park in Richmond, Virginia, bringing the 140,390-square-foot property to 100% leased. The Company’s 1.8 million-square-foot Richmond portfolio is now over 93% leased.
“We are very pleased to add two high-quality tenants to our Southern Virginia portfolio,” said Tony Beck, First Potomac’s regional vice president for Southern Virginia. “These leases continue to illustrate the positive momentum in our Richmond portfolio and our ability to continue attracting quality tenants.”
The first lease is for 24,000 square feet with a Fortune 100 company for a term of six years. The remaining 8,400 square feet of vacancy was leased to a regional tenant for an initial two-year term. Northridge Business Park is located in Richmond, Virginia, one-half mile north of the Atlee/Elmont interchange of I-95.
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 parks, business parks and industrial properties in the Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. The Company’s portfolio totals approximately 12 million square feet. First Potomac’s largest tenant is the U.S. Government, which, along with government contractors, accounts for approximately 20% of the Company’s revenue. For more information, please visit us at www.first-potomac.com.
Source: First Potomac Realty Trust
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. First Potomac Realty Trust Reaches 100% Leased at Northridge Business Park is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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