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WASHINGTON, DC-Anyone feeling discouraged about the pace of recovery in the local commercial real estate market should do some back-of-the-envelope math on First Potomac’s latest acquisition. The REIT snapped up 1211 Connecticut Ave., a fully leased, eight-story, 137,754-square-foot office building for $49.5 million, or approximately $359 per square foot, from Harbor Group International, which acquired the building a year-and-a-half ago for $35.2 million, or approximately $290 per square foot.

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