This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First Potomac Realty Trust’s Redland Corporate Center II & III Nears 90 Percent Leased

First Potomac Realty Trust (NYSE:FPO), a leading owner of office and industrial properties in the greater Washington, D.C. region, today announced two recent lease signings at Redland Corporate Center II & III in Rockville, Maryland, bringing the property to nearly 90-percent leased.

Notable Solutions, a leading provider of paper and electronic content capture and business automation solutions, is relocating its headquarters to Redland Corporate Center II and will occupy 24,477 square feet for seven years.

Greenman-Pedersen, Inc. (GPI), a consulting engineering, planning, survey, mapping, and construction management and inspection firm, will also be moving its headquarters to the property, signing a 7,897-square-foot lease for 10 years.

“When we acquired this first-class property a little over a year ago, we recognized its tremendous value-add potential. Since then, we have embarked on a strategic leasing campaign, and these two transactions are further evidence of its success,” stated Skip Dawson, Executive Vice President and Chief Operating Officer for First Potomac Realty Trust. “Both of these firms chose to upgrade their space at one of the most prestigious business locations in the I-270 corridor. We welcome GPI and Notable Solutions to the property.”

First Potomac acquired Redland Corporate Center II & III in November 2010, with Perseus Realty, LLC retaining a minority ownership position. Redland II totals 209,146 square feet and was 99 percent vacant at acquisition. The 139,120-square-foot Redland III is 100 percent leased to BAE Systems.

Both buildings are Class A, LEED Gold certified. The property features amenities such as a tenant-only fitness center, on-site café, shuttle bus service to the Shady Grove Metro station (red line), and surface and structured parking.

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 December 31, 2011, the company's portfolio totaled over 14 million square feet and consists of 42% office, 37% business parks, and 21% industrial properties. FPO shares are publicly traded on the New York Stock Exchange (NYSE:FPO). For more information, please visit www.first-potomac.com.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs