Chesapeake proves to be a strong market for First Potomac Realty Trust
- September 28, 2011
First Potomac Realty Trust has signed five leases totaling more than 170,000 square feet of space at three buildings the Bethesda, Md., REIT owns in Chesapeake.
According to Citybizlist, three of the leases are at 1434 Crossways Boulevard, a 217,764-squar-foot office property. Totaling more than 150,000 square feet, the lease brings the building’s occupancy rate to 70 percent. Affiliated Computer Services, Inc., previously a subtenant in the building, took the largest amount of space — 107,422 square feet. Value Options Inc., which is expanding in the Hampton Roads market, is taking 30,000 square feet. BT Conferencing Inc., also a sub-tenant, signed a lease for 13,355 square feet.
A tenant new to the market, Superior Quality Manufacturing LLC, is leasing 12,882 square feet at Crossways Commerce Center II. With this lease, the industrial complex is now full. To do the deal with Superior Quality Manufacturing, First Potomac worked with Universal Hospital Services to relocate the company from Crossways to another facility. Universal Hospital signed a lease for nearly 6,400 square feet of at Greenbrier Circle Corporate Center. These deals follow two leases signed this past summer that totaled 115,000 square feet at two industrial buildings First Potomac owns in Chesapeake.