John Dettleff of Grubb & Ellis represented the tenant in both transactions. First Potomac did not return a call to GlobeSt.com in time for deadline.
Both leases are for 10-year terms. In Frederick, the company is maintaining the 120,000 sf at the 170,000-sf industrial building, which is located off Route 85. In Sterling, it is occupying 70,000-sf at First Potomac's Sterling Park Business Center, which includes five existing buildings totaling approximately 377,000 sf, and a recently completed 57,000 sf flex building. Developable land at the site can accommodate up to an additional 500,000 sf.
Recent leases First Potomac has inked include 750,000 sf with FedEx at 1920 Campostella Rd. in Chesapeake, VA., a 33,000-sf lease with Citicorp North America at 5301 Robin Hood Rd. in Norfolk Commerce Center II, and 76,000 sf—a full building—with Siemens at Ammendale Commerce Center property.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
