BETHESDA, MD – First Potomac Realty Trust (NYSE: FPO) aleading owner of office and business park properties in the greater Washington, D.C. area, today announced that Pyramid Systems, Inc. has signed a 23,379 square feet lease at Prosperity Metro Plaza in Fairfax, Virginia.
“We recognized the need for a new corporate headquarters location that could accommodate continued growth in our business and provide exceptional working environment to our employees,” stated Jeff Hwang, CEO & Co-Founder, Pyramid Systems, Inc. “Prosperity Metro Plaza was the most attractive option for Pyramid, based on its central location, multiple transit and transportation options, including being walking distance from Dunn Loring Metro and shuttle buses, room for ongoing growth, on-site and local amenities, and general quality of the complex.”
First Potomac acquired Prosperity Metro Plaza buildings III and IV in late 2011 in a joint venture with the Coakley family. The buildings are located adjacent to the Metro station in Merrifield, Virginia, a burgeoning mixed-use, transit-oriented community. Constructed in 2001, the buildings are primarily leased to the U.S. Government and government contractors.
“The desirable location combined with on-site amenities continues to make Prosperity Metro Plaza a sought-after location for tenants within Merrifield,” stated Edward Zaptin, Vice President of Leasing, Northern Virginia region, at First Potomac Realty Trust. “We are very pleased to add Pyramid Systems to our valued list of tenants, and we are grateful for how therepresenting both sides helped us achieve a quick and successful lease negotiation.”
Josh Masi, Matt Bundy, and Jeanette Ko with Transwestern represented First Potomac. Eddie Saa and Tim Jacobs with DTZ, and Paul Carney with Transwestern represented Pyramid Systems.
The two building project is now 96.6% leased.
About First Potomac Realty Trust
First Potomac Realty Trustis a self-administered, self-managed real estate investment trust that focuses on owning, operating, developing and redeveloping high quality office and business park properties in the greater Washington, D.C. region. As of June 30, 2013,the Company's consolidated portfolio totaled approximately 9 million square feet. Based on annualized cash basis rent, the Company's portfolio consists of 52% office properties and 48% business park and industrial properties. A key element of First Potomac's overarching strategy is its dedication to sustainability. Nearly one million square feet of First Potomac property is LEED Certified, with the potential for another one million square feet in future 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 www.first-potomac.com.