First Potomac Realty Trust Announces $6 Million Renovation At 1211 Connecticut
-Washington Sports Clubs renews nearly 21,000 square feet at property-
BETHESDA, Md., July 16, 2013
BETHESDA, Md., July 16, 2013 /PRNewswire/ --First Potomac Realty Trust
(NYSE:FPO), a leading owner of office and business park properties in the
greater Washington, D.C. area, today announced a $6.25 million renovation at
1211 Connecticut Avenue, NW in Washington, D.C. The Company also announced
that Washington Sports Club has renewed 20,965 square feet for ten years.
(Logo: http://photos.prnewswire.com/prnh/20130604/MM26388LOGO )
1211 Connecticut Avenue, NW is an 8-story, Class B office building located two
blocks south of Dupont Circle and two blocks north of the Farragut North Metro
station in Washington, D.C.'s Central Business District. The planned
renovations will dramatically enhance the building's entrance, lobby, common
areas and restrooms. Significant improvements will also be made to the base
building's mechanical systems. The property is currently 97% leased to a
variety of tenants.
"The planned renovations combined with the highly desirable location of 1211
Connecticut Avenue, NW will allow us to market the property more aggressively
to future tenants," stated Douglas Donatelli, Chairman and Chief Executive
Officer of First Potomac Realty Trust. "As we continue to see a flight to
quality in the downtown market, the improvements will only further enhance our
ability to attract quality tenants."
"We are pleased to renew our lease at 1211 Connecticut Avenue, NW," said Bob
Giardina, CEO of Washington Sports Clubs and Town Sports International. "We
look forward to the completed renovations and the enhancements that they will
bring to our members' experience."
Doug Mueller and Evan Behr of Jones Lang LaSalle represent First Potomac
inleasing the building. Michael Zacharia of CBRE represented Washington
Sports Clubs and Town Sports International in the transaction.
About First Potomac Realty Trust
First Potomac Realty Trust is a self-administered, self-managed real estate
investment trust that focuses on owning, operating, developing and
redeveloping office and business park properties in the greater Washington,
D.C. region. A key element of First Potomac's overarching strategy is its
dedication to sustainability. Nearly 1 million square feet of First Potomac
property is LEED Certified, with the potential for another 1 million square
feet in future development projects. Approximately half of the portfolio's
multi-story office square footage is LEED or Energy Star Certified and 81% of
First Potomac's Washington, DC portfolio is Energy Star Certified. FPO common
shares (NYSE:FPO) and preferred shares (NYSE:FPO-PA) are publicly traded on
the New York Stock Exchange. For more information, please visit
SOURCE First Potomac Realty Trust
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