BETHESDA, MD-Campus at Metro Park North, a 190,000-sf multi-structure flex complex in Rockville, and the 215,000-sf industrial building at 4612 Navistar Dr. are officially part of First Potomac Realty Trust’s portfolio now that the Bethesda-based REIT has closed the $63 million acquisition of the properties. The transaction included First Potomac’s assumption of two mortgages accounting for $37 million at an interest rate of 7.24%. Both properties are leased to maximum capacity.

“Metro Park North and Navistar Dr. allow us to expand our presence in suburban Maryland,” First Potomac CEO Douglas J. Donatelli notes. “The properties have strong tenancy and were recently constructed, and we expect them to generate solid returns over both the short and long term.” They also further solidify our already strong portfolio, which is more than 95% leased, and will allow us to focus on more opportunistic acquisitions in 2005.”

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?


© 2024 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.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.