First Potomac Realty Trust Signs Windspeed Logistics, LLC to 33,150-Square-Foot Expansion
-Diamond Hill Distribtion Center Now 95 Percent Leased-
BETHESDA, Md.--(BUSINESS WIRE)-- First Potomac Realty Trust (NYSE:FPO), a leading owner of office and industrial properties in the greater Washington, D.C. and Norfolk regions, today announced a 33,150-square-foot lease expansion with Windspeed Logistics, LLC (Windspeed). The company will now occupy a total of 133,639 square feet of space at Diamond Hill Distribution Center in Chesapeake, Virginia.
"Both our long-term partnership with Windspeed, and their decision to move forward with a lease expansion at Diamond Hill are further testaments to the high-quality tenant services and spaces we offer at our properties," says Skip Dawson, Executive Vice President and Chief Operating Officer for First Potomac Realty Trust.
Windspeed has worked with First Potomac to expand its business from the initial 27,000 square feet of space it first leased in November of 2004, to the over 133,000 square feet it has expanded to today.
"We are very excited about the continued growth and expansion that we have in our Chesapeake, Virginia operation and the assistance that First Potomac has provided us to expand and accomplish our goals in that region," said Dennis Butterwei, President at Windspeed Logistics, LLC.
Windspeed Logistics, LLC is a full service agent for Cowan Systems, LLC and is headquartered in Baltimore, Maryland, with additional locations in Union, New Jersey and Wilmington, Delaware. The firm specializes in warehousing, container drayage, importing/exporting, distribution, consolidation, cross docking and truck brokerage.
Windspeed's expansion brings Diamond Hill to 95% leased. Diamond Hill Distribution Center is conveniently located just off I-64 in the Bainbridge submarket of Chesapeake, Virginia.
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 industrial properties in the greater Washington, D.C. region. As of June 30, 2012, the Company's consolidated portfolio totaled approximately 14 million square feet. Based on annualized cash basis rent, the Company's portfolio consists of 42% office properties, 36% business parks and 22% industrial properties. 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 another 1 million square feet currently in development. Approximately half of the portfolio's total square footage of multi-story office property is either LEED or Energy Star Certified and 82% of First Potomac's Washington, DC portfolio is Energy Star Certified. FPO common shares (NYS: FPO) and preferred shares (NYS: FPO.PA) are publicly traded on the New York Stock Exchange. For more information, please visit www.first-potomac.com.
First Potomac Realty Trust
Vikki Kayne, 301-986-9200
KEYWORDS: United States North America Maryland Virginia
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