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Dec

22

First Potomac Sells Seven-Building Industrial Park

By Tony Seruga

It’s always a full house at RealShare Philadelphia. The Union League, February 9.

One of the buildings in Newington Business Park Center

WASHINGTON, DC—First Potomac Realty Trust has sold the Newington Business Park Center in Lorton, VA, for $32.5 million. An affiliate of Velsor Properties LLC is the buyer of the seven-building, 256,000-square foot park.HFF’s Bruce Strasburg repped the seller in the transaction.

The REIT plans to use the proceeds to fund a share buy back it announced last week.

The company plans to sell at least $200 million in assets as part of its repositioning, according to the new CEO, Robert Milkovich…

First Potomac Sells Seven-Building Industrial Park

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