ALEXANDRIA, VA-Alexandria Corporate Park, a 280,000-sf office/warehouse/flex property, has found a new owner with First Potomac Realty Trust’s acquisition of the property from Pennsylvania’s Preferred Real Estate Investments in a $40 million transaction. Carrying the address of 6315 Bren Mar Dr. along the I-395 corridor in the city’s Springfield/Newington submarket, the two-story, forty-year-old business structure was recently revived by a $4.5 million modernization project. As per Fairfax Count records, the property’s value as of January 2003 is listed at nearly $16 million.

At the time of the sale, Alexandria Corporate Park was leased to 68% capacity to a long list of diverse tenants. Based on the aforementioned level of occupancy, the property is expected to yield an estimated $3.5 million in net operating income in 2004. The US General Services Administration is the largest tenant at the property with 60,000 sf leased to house the Central Training Facility and West Regional Office of the government’s Federal Protective Service. GSA signed the 10-year occupancy agreement about a year ago.

“This acquisition fits squarely into our strategy of acquiring well-located assets leased to the US Government, government contractors and Fortune 500 companies that provide attractive initial yields as well as upside potential,” First Potomac CEO and president Douglas J. Donatelli explains. Other large tenants at the park include computer software company CACI International Inc., which occupies 46,000 sf, and IKON Office Solutions, which makes its home in a 25,000-sf space. Among the list of additional park occupants are TESST College of Technology and information technology firm Technology Team Inc.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.