DOD is leasing 51,279 square feet at Interstate Plaza propertyin Alexandria, VA. Interstate Plaza is a two-story buildingtotaling 109,081 square feet. DOD is scheduled to move in January2009. Sutron Corp. will occupy a newly constructed building inFirst Potomac's six-building Sterling Park Business Center, inSterling, VA., taking 27,817 square feet. First Potomac did notreturn a call to GlobeSt.com in time for publication.
In Q3 the company executed 553,000 square feet of leases,according to its Q3 earnings report. New leases brought in anadditional 307,000 square feet of occupancy; 246,000 square feet ofthe Q3 leasing activity were renewals. Sterling Business ParkCenter registered 69,000 square feet of renewals in Q3. Rentalrates per square foot increase 10% for new leases and 5% forrenewal leases on a GAAP basis, according to the earningsreport.
First Potomac's portfolio was 88.8% leased and 86.3% occupied atSeptember 30, 2008 compared to 88.2% leased and 86.6% occupied atJune 30, 2008.
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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.
