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.

Copyright Business Wire 2010

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