First Potomac Realty Trust is pleased to announce that Vangent, Inc. has renewed its lease for 123,200 square feet at Rivers Bend Center, in Richmond, Virginia. Vangent is a leading global provider of information management and outsourcing services for the federal government, as well as commercial, education, and healthcare organizations.
“This lease renewal with Vangent keeps an important government-related tenant in our portfolio and addresses a major lease expiration in 2010. Vangent has been a tenant at River’s Bend since 2005, and we are pleased that they have chosen to extend their lease with us through 2013,” said Tony Beck, First Potomac’s Regional Vice President for Southern Virginia. “The extension of the partnership between First Potomac and Vangent is a direct reflection of the high level of service provided by our Richmond team.”
River’s Bend Center is an 800,000 square foot business park in Richmond, Virginia owned by First Potomac Realty Trust. The park is conveniently located just minutes from I-295 and I-95 and within walking distance to River's Bend Shopping Center.
Studley represented Vangent in structuring the lease transaction. Studley’s team included Executive Managing Director Steve Hubberman and Corporate Managing Director Christopher O’Brien of the Suburban Washington office.
About First Potomac Realty Trust
First Potomac Realty Trust is a self-administered, self-managed real estate investment trust that focuses on owning, developing, redeveloping and operating industrial properties and business parks in the Washington, D.C. metropolitan area and other major markets in Virginia and Maryland. The Company's portfolio totals approximately 12 million square feet. The Company's largest tenant is the U.S. Government, which, along with government contractors, accounts for approximately 20% of the Company’s revenue. For more information, please visit us at www.first-potomac.com.
About Vangent, Inc.
Vangent, Inc. is a global provider of consulting, systems integration, human capital management, and strategic business process outsourcing services to the U.S. federal and international governments, higher education institutions, and corporations. Vangent's 7,000 employees support clients including the Centers for Medicare & Medicaid Services, the U.S. Departments of Defense, Education, Health and Human Services, and Labor; and the U.S. Office of Personnel Management, as well as Fortune 500 companies. Headquartered in Arlington, Virginia, the company has offices throughout the U.S. and in the U.K., Canada, Mexico, Venezuela, and Argentina. For more information, visit www.vangent.com.
Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available at www.studley.com.