{"id":1004024989,"date":"2010-12-10T06:01:28","date_gmt":"2010-12-10T14:01:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004024989"},"modified":"2022-12-07T05:09:43","modified_gmt":"2022-12-07T13:09:43","slug":"first-potomac-buys-d-c-office-building-for-49-5m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/first-potomac-buys-d-c-office-building-for-49-5m\/","title":{"rendered":"First Potomac Buys D.C. Office Building for $49.5M"},"content":{"rendered":"<p>December 10, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<p>First Potomac Realty Trust has made its seventh office purchase this year, which brings the REIT to a total of 1.3 million square feet in additional office properties. First Potomac bought 1211 Connecticut Ave. in Washington, D.C. for $49.5 million.<\/p>\n<p>The property was purchased from Harbor Group International. It is an eight-story, 137,754-square-foot building first constructed in 1967 and then renovated in 1998 and 2008. Fully leased to 25 tenants, it is slated for renovations to the fa\u00e7ade and lobby.<\/p>\n<p>According to First Potomac chairman &amp; CEO Douglas Donatelli, the purchase reflects the company\u2019s strategy to leverage its strong financial position. It is the third D.C. purchase this year. <\/p>\n<p>First Potomac projects an intitial cash yield of 6.5 percent and an initial accrual yield of 7.2 percent. Other acquisitions this year include Atlantic Corporate Park in Sterling, Va., Redland Corporate Center II and III in Rockville, Md., and Three Flint Hill in Fairfax County, Va.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the REIT&#8217;s seventh office purchase this year and its third in the D.C. area. First Potomac has bought a total of 1.3 million square feet in office properties in 2010.<\/p>\n","protected":false},"author":936,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37774,37775,21742,21747,37776,37777,37778],"tags":[],"class_list":["post-1004024989","post","type-post","status-publish","format-standard","hentry","category-rc-dividend-yield","category-rc-forward-affo-payout-ratios","category-latest","category-office","category-rc-premium-discount-to-nav","category-rc-price-ltm-ffo","category-rc-total-return"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>First Potomac Buys D.C. Office Building for $49.5M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/first-potomac-buys-d-c-office-building-for-49-5m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Potomac Buys D.C. Office Building for $49.5M\" \/>\n<meta property=\"og:description\" content=\"This is the REIT&#039;s seventh office purchase this year and its third in the D.C. area. First Potomac has bought a total of 1.3 million square feet in office properties in 2010.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/first-potomac-buys-d-c-office-building-for-49-5m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-12-10T14:01:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T13:09:43+00:00\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/first-potomac-buys-d-c-office-building-for-49-5m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/first-potomac-buys-d-c-office-building-for-49-5m\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"First Potomac Buys D.C. 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