First Potomac Realty Trust Renews Over 140,000 Square Feet Lease in Chesapeake, VA
BETHESDA, MD (March 7, 2013) –First Potomac Realty Trust (NYSE:FPO), a leading owner of office and industrial properties in the greater Washington, D.C. and Norfolk regions, today announced Transnational Foods, Inc.’s lease renewal of 141,050 square feet at Diamond Hill Distribution Center in Chesapeake, Virginia.
Transnational Foods, Inc. has several distribution centers throughout the U.S. It offers supermarkets, wholesalers, dollar stores, convenience stores and distributors a wide range of products through its own brands as well as private labels.
Diamond Hill Distribution Center includes four buildings totaling over 712,500 square feet and is approximately 97% leased. The property is conveniently located just off Route 64 in the Bainbridge submarket of Chesapeake, Virginia.
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, 2012, the Company's consolidated portfolio totaled approximately 14 million square feet. Based on annualized cash basis rent, the Company’s portfolio consists of 43% office properties, 34% business parks and 23% industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Nearly 1 million square feet of First Potomac property is LEED Certified, with the potential for another 1 million square feet in future development projects. Roughly half the portfolio's multi-story office square footage is LEED or Energy Star Certified and 82% of First Potomac’s Washington, DC portfolio is Energy Star Certified. FPO common shares (NYSE:FPO) and preferred shares (NYSE:FPO-PA) are publicly traded on the New York Stock Exchange. For more information, please visit www.first-potomac.com.