CHESTER, VA-First Potomac has sewed up 20% of its southernVirginia lease expiration exposure with the signing of two renewalsin its River’s Bend Center facility here. The two leases total273,400 square feet.
Redemtech renewed its 115,000-square-foot lease in thetwo-building flex facility through 2016. A Fortune 500financial services company renewed its 158,400-square-foot leasethrough 2018. River's Bend Center is a six-building business parktotaling 795,037 square feet.
First Potomac has lately been focusing on its portfolio closerto the DC area--or at least that is where many of the deals it hasclosed lately have occurred. For instance, it recentlysigned a four-year renewal for approximately 130,000square feet with Home Depot at the Glenn Dale Business Center inGlenn Dale, VA and a 10-year, 21,350-square-foot lease with theTile Shop, also in the Glenn Dale Business Center.
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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.
