Ed Palmedo Posted January 10, 2011 Report Share Posted January 10, 2011 First Potomac Realty Trust, a leading owner of office and industrial properties in the greater Washington, DC region, today announced that it acquired 7458 Candlewood Road in Hanover, Maryland, on December 29, 2010 for a purchase price of $22.6 million. The 295,673-square-foot warehouse facility is located in close proximity to Baltimore-Washington International (BWI) Airport. "We are pleased to add this warehouse facility in the heart of the Baltimore-Washington Corridor to our portfolio". The original 184,862-square-foot building was developed in 1985 by Mercedes-Benz and was expanded by 110,811 square feet in 2009. The acquisition was financed through the assumption of a $14.7 million first mortgage loan and a draw on the Company’s revolving credit facility. Additionally, First Potomac Realty Trust announced that on December 29, 2010, it acquired, through a 50-50 joint venture with AEW Capital Management, L.P, title to Aviation Business Park, a three-building office park totaling 121,000 square-feet adjacent to BWI Airport. The Company previously announced that it had acquired the first mortgage loan secured by the property for $8.0 million. Quote Link to comment Share on other sites More sharing options...
Guest Tamborine Man Posted January 11, 2011 Report Share Posted January 11, 2011 There are so many vacant buildings that once were filled with the American dream. We need to bring it back again. Quote Link to comment Share on other sites More sharing options...
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