The FedEx lease is part of the company's national expansion plan, which encompasses the opening of seven new hubs and the expansion of 21 hubs and 230 local facilities by 2013. FedEx will be basing its Home Delivery service in the Diamond Hill Distribution Center--a four-building industrial park that totals 712,500 sf on 37.43 acres of land, located next to Route 64--after scheduled renovations are complete in Q4 2008. Currently these operations occupy a 32,000-sf facility in Norfolk. The 7-Eleven lease is in a single-story office building totaling 51,209 sf on 3.9 acres of land, located within walking distance of several other First Potomac properties.

First Potomac has been on a hot streak lately, chalking up new leases on a regular basis since the spring. A 33,000-sf lease with Citicorp North America brought 5301 Robin Hood Rd. in Norfolk Commerce Center II to full occupancy. In Beltsville, MD, Siemens inked a lease to occupy 76,000-sf--a full building--at the firm's Ammendale Commerce Center property.