The warehouse, which delivered one year ago, is located at 3732Cook Blvd. It is one of three buildings at Cavalier IndustrialPark. The new lease transaction not only brings 3732 Cook to fulloccupancy--it also brings the entire park to fullstabilization.
First Potomac began to aggressively lobby tenants to renewleases ahead of upcoming expirations as well as seek out newtenants last year to keep on top of its occupancy levels. For thenext few quarters, First Potomac will have between 1.5% and 3.5% ofannualized base rent expiring each quarter, leaving the REIT with amanageable exposure to lease roles in the near and medium term,according to comments made by CEO Doug Donatelli in an earningscall last year.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
