WASHINGTON, DC-First Potomac has created a new position to help it in its transition to becoming solely an office owner and has hired Mario Silva to fill the slot. The position is director of Portfolio Management.

Silva most recently was director of Property Management for Brookfield Office Properties/Trizec Properties. He also was assistant vice president of asset management at Quadrangle Development Corp. and also worked at Archon Group, Delta Associates and Sovran Bank of Maryland.

First Potomac created the position, Silva tells GlobeSt.com "to make sure the strategic plans it has created are actually implemented."

In January, First Potomac unveiled an updated strategic and capital plan that included a possible sale of its 4.3-million square foot industrial portfolio. The goal, the company said, is a portfolio with a greater concentration of high-quality office properties in the Washington, D.C. area.

Sixteen, or 2.6-million square feet, of the industrial assets First Potomac is marketing are in Southern Virginia. The industrial portfolio, which is being marketed by Eastdil Secured, was approximately 80% leased as of September 30, 2012 and represents approximately 17% of First Potomac's net operating income.

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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.