ASHBURN, VA-Fresh on the heels of a debt restructuring, First PotomacRealty Trust has acquired a newly-built, three building, class Abusiness park here for $14 million. Called Ashburn Center, FirstPotomac acquired it from MRP Realty, which negotiated a discountedpayoff of its construction loan as part of the transaction.

The purchase price of $72 per square foot is a 45% discount toestimated replacement cost. MRP Realty will be paid additionalconsideration if certain returns are achieved over the next fiveyears. The 194,183-square-foot property is located five miles north ofDulles Airport – close to First Potomac’s Sterling Park BusinessCenter. Ashburn Center has been partially built out as a data center,and is currently 45% leased to three technology and data storagetenants.

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