First Potomac Realty Trust Purchases Office Building in NoMa
Washington, D.C., March 28, 2011 – Investor interest in NoMa continues to flourish with First Potomac Realty Trust purchasing 840 First Street, NE. First Potomac purchased the 248,576-SF office building from the Stephen A. Goldberg Company in an off-market transaction for $90 million or $362 per square foot. This is the fourteenth property First Potomac has acquired since late 2009 and the first in the NoMa submarket.
840 First Street, NE is a 12-story Class A office building fully leased to Group Hospitalization and Medical Services, Inc. an independent licensee of Blue Cross and Blue Shield Association. The building is located in the heart of the NoMa submarket, blocks away from Union Station and the U.S. Capitol.
For more information on First Potomac Realty Trust, visit www.first-potomac.com/.
NoMa is a vibrant, growing neighborhood north of Union Station and the U.S. Capitol in Washington, D.C. In the last five years, private developers have invested more than $3 billion in the 35-block area covered by the NoMa BID, and have plans to develop more than 20 million square feet of office, residential, hotel, and retail space. NoMa has leased 3 million SF of space in three years; view a list of recent leases. In 2010, more than 5,000 people moved into NoMa to live or work; and eight new retailers opened for business. NoMa has 15 modes of transportation, including two Red Line Metro stops, and the best biking facilities in DC, with the only East Coast Bikestation, the 8-mile Met Branch Trail, and six Capital Bikeshare stations. For more information about NoMa, visit nomabid.wpengine.com and sign up for our bimonthly newsletter.