WASHINGTON, DC—First Potomac Realty Trust has sold the Newington Business Park Center in Lorton, VA, for $32.5 million. An affiliate of Velsor Properties LLC is the buyer of the seven-building, 256,000-square foot park.
HFF's Bruce Strasburg repped the seller in the transaction.
The REIT plans to use the proceeds to fund a share buy back it announced last week.
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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.
