CHESTER, VA-First Potomac has sewed up 20% of its southern Virginia lease expiration exposure with the signing of two renewals in its River’s Bend Center facility here. The two leases total 273,400 square feet.
Redemtech renewed its 115,000-square-foot lease in the two-building flex facility through 2016. A Fortune 500 financial services company renewed its 158,400-square-foot lease through 2018. River's Bend Center is a six-building business park totaling 795,037 square feet.
First Potomac has lately been focusing on its portfolio closer to the DC area--or at least that is where many of the deals it has closed lately have occurred. For instance, it recently signed a four-year renewal for approximately 130,000 square feet with Home Depot at the Glenn Dale Business Center in Glenn Dale, VA and a 10-year, 21,350-square-foot lease with the Tile Shop, also in the Glenn Dale Business Center.
First Potomac also signed a deal with Vocus for 93,000 square feet at Ammendale Business Park in Maryland, as well as a five-year, 32,000-square-foot lease with FF&E Logistics in the same park. And this summer it acquired its first core DC office at 500 First St. for $68 million.
A little further out from DC’s core, it also acquired an office building in Oakton, VA for $13.8 million and the Corporate Campus at Ashburn Center.
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