In Norfolk, VA, First Potomac closed on the purchase of two flexbuildings--the 128,000-sf Norfolk Commerce Park II and the95,000-sf Crossways II--for a total of $18.5 million. The buildingswere 94% and 100% leased, respectively, at the time of thetransaction. In Haymarket, VA, First Potomac spent $10.8 million tobuy the 124,000-sf, fully leased industrial structure at 15395 JohnMarshall Highway. The deal included a parcel at the site that canbe developed to accommodate a building as large as 80,000 sf.

"These three properties are a natural fit with our growingportfolio," says First Potomac CEO Douglas J. Donatelli. "With theacquisition of John Marshall Highway, we gain access to this marketat a strong initial return along with the opportunity to expand theproperty in the future. The properties in the Norfolk market offerus another opportunity to expand our investment in this exceptionalindustrial and flex market."

And while the deal hasn't yet reached completion, First Potomachas signed a definitive agreement to purchase the four-structure,190,000-sf flex Campus at Metro Park North in Rockville, MD, andthe 215,000-sf industrial building at 4612 Navistar Dr. inFrederick, MD. It will pay $63 million for both properties, whichare leased to maximum capacity.