In October, First Potomac brought on regional vice presidents Mary Wacker for the Northern Virginia region and Tony Beck for the Southern Virginia region. The three person team will focus on leasing strategies.
According to BMO Capital Markets Corp. analyst Paul Adornato, leasing strategies have become more integral to the company's bottom line. "When it went public its strategy was mainly acquiring existing, fully leased properties," he tells GlobeSt.com. "Now that cap rates have moved down First Potomac has shifted its strategy in order to add value through lease-up, development and redevelopment strategies."
During Q4 2006, First Potomac completed one million sf of leasing activity; including approximately 650,000 sf of lease renewals and 380,000 sf of new leases, as reported by GlobeSt.com.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.