BETHESDA, Md., May 29, 2014 /PRNewswire/ -- First Potomac Realty Trust (NYSE: FPO), a leading owner of office and business park properties in the greater Washington, D.C. region, today announced four lease transactions totaling 19,354 square feet at the newly redeveloped 440 First Street, NW in Washington, D.C.
- Beer Institute, a resource center representing the beer industry before Congress, state legislatures and public forums, signed an 11-year lease totaling 4,697 square feet. Michael Boland with Boland Real Estate Services represented the Beer Institute.
- Banner Public Affairs, a government relations and communications company, signed a 5-year, 10 month lease for 4,808 square feet. Mark Klug at CBRE represented Banner Public Affairs.
- Access Group, a nonprofit membership organization, signed an 11-year, 7,453 square foot lease. Access Group was represented by Thomas Hilley and Stephen Cloud with Transwestern.
- Michael Torrey Associates, a public affairs group, signed a 6-year lease for 2,396 square feet. Jim Layton with Summit Commercial Real Estate represented Michael Torrey Associates in the transaction.
"We are very pleased with the leasing momentum that we are experiencing at the newly redeveloped 440 First Street," stated Ernest Jarvis, Senior Vice President at First Potomac Realty Trust. "We are able to accommodate immediate occupancy tenants who desire a Capitol Hill location in a building with exceptional amenities."
First Potomac Realty Trust acquired the property in 2011 and completed a full-building renovation in October 2013. The 140,000 square foot, Class A office building boasts spectacular views of the U.S. Capitol and the Washington Monument. Located just blocks from Capitol Hill, 440 First Street is served by both Union Station and the Judiciary Square Metro. The building boasts two rooftop terraces, a conference center/boardroom, a state-of-the-art fitness center, and retail/restaurant space on the lobby level.
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 business park properties in the greater Washington, D.C. region. As of March 31, 2014, the Company's consolidated portfolio totaled 8.7 million square feet. Based on annualized cash basis rent, the Company's portfolio consists of 54% office properties and 46% business park and industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Over one million square feet of First Potomac property is LEED Certified, with the potential for another 700,000 square feet in future development projects. Approximately half of the portfolio's multi-story office square footage is LEED or Energy Star Certified. FPO common shares (NYSE: FPO) and preferred shares (FPO-PA) are publicly traded on the New York Stock Exchange.
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