FIRST POTOMAC BUYS D.C. OFFICE FOR $68 MILLION

WASHINGTON, D.C. — First Potomac Realty has purchased the 129,035-square-foot office property at 500 1st St. NW in Washington from AREA Property Partners Value Enhancement Fund VII for $68 million. AREA purchased the property with Van Ness Property Group in 2008 for $44.9 million. The Federal Bureau of Prisons leases the entire building.