Commercial real estate event draws nearly 300 people in Richmond (Virginia Business)
[News Posted 04.24.2012]
For the latest assessment on Richmond’s commercial real estate market, the place to be Tuesday was the Jefferson Hotel for Bisnow’s inaugural event in the capital city. Nearly 300 real estate professionals turned out for what was billed as a major networking opportunity before and after two panels...
First Potomac's Renewal Strategy (Bisnow DC)
[News Posted 04.17.2012]
Knowing your tenants is key to inking renewals, First Potomac COO Skip Dawson tells us. His firm recently signed two big ones at Gateway 270 West in Gaithersburg: One is an extension with Allstate (26k SF) and the other an extension and expansion with DIRECTV (43k SF). Click here to continue...
The state of Union Station (Washington Post - Capital Business)
[News Posted 04.08.2012]
When Nick Smith was a student at Gonzaga College High School in the District, the school allowed students to leave campus at lunch time to go elsewhere to eat. But even though the school’s campus, on Eye Street Northwest, was only a few blocks from Union Station, he rarely remembers going there....
2012 Minority Business Leader Awards: Ernie Jarvis (Washington Business Journal)
[News Posted 03.16.2012]
The District isn’t just a place where Ernie Jarvis works. A fifth-generation Washingtonian, Jarvis lives and breathes the city, where he has worked for all of his adult life in commercial real estate, shaping and redefining the District into a place he hopes will be much better off because of his...
Can the D.C. office market absorb a new wave of speculative construction? (Washington Business Journal)
[News Posted 03.09.2012]
The Trammell Crow Co. plans to break ground this month on the second $100 million phase of its Sentinel Square office development in D.C.’s NoMa neighborhood — a sign of what could be the next stage in a speculative construction boom that has emerged after the recession choked off billions of...
Six Questions for Doug Donatelli (GlobeSt.com)
[News Posted 02.28.2012]
WASHINGTON, DC-All things considered, First Potomac posted a strong year for 2011 and the fourth quarter. Not only did the company deliver strong funds from operations—a key metric for REITs—but it also exceeded its goal of one million square feet in new leases for the year, CEO Doug Donatelli told...
First Potomac Realty Trust to overhaul 440 First St. NW (Washington Business Journal)
[News Posted 02.24.2012]
First Potomac Realty Trust is planning a $20 million overhaul of 440 First St. NW, a 105,000-square-foot building near the Capitol, its first redevelopment project in D.C. Click here to continue...
First Potomac Realty Trust FFO Matches Estimates (Metro Business Media)
[News Posted 02.21.2012]
First Potomac Realty Trust (NYSE: FPO),the Bethesda-based real estate investment trust (REIT) which recently acquired a 51% interest in two northern Virginia office buildings said Core Funds From Operations (FFO) totaled $14.9 million for the fourth quarter 2011, or $0.28 per diluted share compared...
Sentara Healthcare renews for 71,249 square feet in Chesapeake
[News Posted 02.14.2012]
Sentara Healthcare has signed an early renewal lease at the Crossways Commerce Center in Chesapeake. According to building owner, First Potomac Realty Trust, Sentara will occupy 71,249 square feet at the complex for a new 10-year term, maintaining the building’s100-percent occupancy. It’s located...
REITs in Virginia continue to buy and develop properties and push green construction
[News Posted 02.07.2012]
The past year has been a busy one for real estate investment trusts (REITs). They have been on the move in Virginia, developing properties in hot sectors and buying — rather than building — in others. The state is seeing investments in apartment projects, particularly in Northern Virginia. Plus,...
New debt concerns torment Washington real estate
[News Posted 02.06.2012]
As the local economy cools and investors remain mired in uncertainty, some commercial real estate loans in Washington are again beginning to give lenders and ratings agencies reason for concern — a dour sign for more than $1 trillion worth of debt that will be coming due in the area over the next...
First Potomac Realty Trust D.C.-bound
[News Posted 01.20.2012]
Bethesda’s First Potomac Realty Trust .. (NYSE: FPO) is planting a flag in the District. The publicly traded real estate investment trust, which is hoping to become one of D.C.’s largest commercial real estate owners, has inked a deal to sublease about 7,000 square feet at 1667 K St. NW. Click...
Hail to the chief (of D.C. real estate)
[News Posted 01.19.2012]
A changing of the guards took place in a suite at The Hay Adams overlooking the White House and Washington Monument Wednesday evening that could have as much of an impact on the D.C. real estate scene as the upcoming presidential elections. The District of Columbia Building Industry Association...
First Potomac Expands Loan Agreement to $225M (GlobeSt.com)
[News Posted 01.05.2012]
WASHINGTON, DC-Despite the somewhat gloomy prospects facing the DC area, the past few days have been business as usual for the market. Cases in point: expanded bank financing secured by local REIT First Potomac Realty and the signing of a long-awaited mega lease by the US State Department. Click...
Top Deals of 2012: Part Two (BISNOW - DC)
[News Posted 01.04.2012]
in January, First Potomac and Akridge announced they'd purchased the 85k SF building for $39.6M, with plans to tear it down for a new 170k SF trophy office. First Potomac owns a majority stake in the building, and Akridge will also provide development, leasing, and property management services....